"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not?
To those questions, there’s one figure that can shed at least a partial light: real GDP.
In the previous video, you learned about how to compute GDP. But what you learned to compute was a very particular kind: the nominal GDP, which isn’t adjusted for inflation, and doesn’t account for increases in the population.
A lack of these controls produces a kind of mirage.
For example, compare the US nominal GDP in 1950. It was roughly $320 billion. Pretty good, right? Now compare that with 2015’s nominal GDP: over $17 trillion.
That’s 55 times bigger than in 1950!
But wait. Prices have also increased since 1950. A loaf of bread, which used to cost a dime, now costs a couple dollars. Think back to how GDP is computed. Do you see how price increases impact GDP?
When prices go up, nominal GDP might go up, even if there hasn’t been any real growth in the production of goods and services. Not to mention, the US population has also increased since 1950.
As we said before: without proper controls in place, even if you know how to compute for nominal GDP, all you get is a mirage.
So, how do you calculate real GDP? That’s what you’ll learn today.
In this video, we’ll walk you through the factors that go into the computation of real GDP.
We’ll show you how to distinguish between nominal GDP, which can balloon via rising prices, and real GDP—a figure built on the production of either more goods and services, or more valuable kinds of them. This way, you’ll learn to distinguish between inflation-driven GDP, and improvement-driven GDP.
Oh, and we’ll also show you a handy little tool named FRED — the Federal Reserve Economic Data website.
FRED will help you study how real GDP has changed over the years. It’ll show you what it looks like during healthy times, and during recessions. FRED will help you answer the question, “If prices hadn’t changed, how much would GDP truly have increased?”
FRED will also show you how to account for population, by helping you compute a key figure: real GDP per capita. Once you learn all this, not only will you see past the the nominal GDP-mirage, but you’ll also get an idea of how to answer our central question:
"Are we better off than we were all those years ago?"
Macroeconomics Course: http://bit.ly/1R1PL5x
Ask a question about the video: http://bit.ly/24pzD7X
Next video: http://bit.ly/1TGgR8r
Help us caption & translate this video!
http://amara.org/v/H0PX/

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

published:16 Mar 2016

views:7392

They say what matters most in life are the things money can’t buy.
So far, we’ve been paying attention to a figure that’s intimately linked to the things money can buy. That figure is GDP, both nominal, and real. But before you write off GDP as strictly a measure of wealth, here’s something to think about.
Increases in real GDP per capita also correlate to improvements in those things money can’t buy.
Health. Happiness. Education.
What this means is, as real GDP per capita rises, a country also tends to get related benefits.
As the figure increases, people’s longevity tends to march upward along with it. Citizens tend to be better educated. Over time, growth in real GDP per capita also correlates to an increase in income for the country’s poorest citizens.
But before you think of GDP per capita as a panacea for measuring human progress, here’s a caveat.
GDP per capita, while useful, is not a perfect measure.
For example: GDP per capita is roughly the same in Nigeria, Pakistan, and Honduras. As such, you might think the three countries have about the same standard of living.
But, a much larger portion of Nigeria's population lives on less than $2/day than the other two countries.
This isn’t a question of income, but of income distribution—a matter GDP per capita can’t fully address.
In a way, real GDP per capita is like a thermometer reading—it gives a quick look at temperature, but it doesn’t tell us everything.
It’s far from the end-all, be-all of measuring our state of well-being. Still, it’s worth understanding how GDP per capita correlates to many of the other things we care about: our health, our happiness, and our education.
So join us in this video, as we work to understand how GDP per capita helps us measure a country’s standard of living. As we said: it's not a perfect measure, but it is a useful one.
Macroeconomics Course: http://bit.ly/1R1PL5x
Ask a question about the video: http://bit.ly/1WJcJ5w
Next video: http://bit.ly/1S1CxuA
Help us caption & translate this video!
http://amara.org/v/H04s/

published:20 Nov 2015

views:164625

The conventional wisdom that all growth is good is not based on real science, empirical data, or business reality.

published:06 Jun 2011

views:1977

This A Level Economics video explains what economic growth is and makes a distinction between short run and long term factors that can affect the rate of real GDP growth in a country.
MORE ABOUT TUTOR2U ECONOMICS:
Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more:
https://www.tutor2u.net/economics
A Level Economics Revision Flashcards:
https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards
A Level Economics Example Top Grade Essays:
https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics

published:20 Apr 2016

views:30779

The economy is expected to grow steadily. Politics, industry and trade wish for economic growth. But how can economic growth be measured and might the economy eventually fully grown sometime? Our third clip in cooperation with Deutsche Welle explains "Economic Growth".
This explainer video was produced by explainity GmbH
Homepage: www.explainity.com
E-Mail: info@explainity.com
If you are interested in an own explainity explainer video, visit our website www.explainity.com and contact us. We are looking forward to your inquiry.
You are welcome to use this explainer video for your own purpose and website. Keep in mind that this explainer video must not be altered in regards to content and graphics. If you decide to use it, please credit explainity as the producer and refer to our website at www.explainity.com.

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

published:16 Mar 2016

views:5413

Economic growth increases when more people work more productively. However, economic growth has slowed in the last decade, as increases in productivity and hours worked have fallen to fractions of their previous rates. Returning to rapid economic growth will require policies that encourage individuals to rejoin the workforce and businesses to invest in physical capital.
For more information, please visit the Policyed page here: https://www.policyed.org/intellections/formula-economic-growth/video
Additional resources:
John Taylor argues for policy reforms to promote economic growth in “Can WeRestart The RecoveryAll Over Again?”: http://stanford.io/2tOVoQB or http://bit.ly/2terZD3
In “Slow economic growth as a phase in a policy performance cycle,” John Taylor discusses the reasons and policies behind our poor economic performance: http://stanford.io/2rSa0SI
Read “A Recovery Waiting to BeLiberated” by John Taylor to learn about the policies that can speed up our economic growth here: http://on.wsj.com/2sBwHYA
Watch John Taylor’s testimony before the Financial Services Committee concerning monetary policy here: http://bit.ly/2tOSiME
In an interview with Bloomberg's Kathleen Hays, John Taylor discusses the global financial instability and roles the central banks play: https://bloom.bg/2ttYiLl
Read “Getting OffTrack: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis” by John B. Taylor to learn more about the 2007-2008 financial crisis here: http://hvr.co/2sUwfYf

published:27 Jun 2017

views:219381

(www.abndigital.com)
Investors should be wary of basing investment decisions too heavily on the plethora of economic data they are exposed to on a daily basis, such as GDP growth rates, inflation data amongst others. This as research disproves the existence of a positive relationship between real economic growth and stock market returns. To talk more about these findings, ABN's Bronwyn Nielsen is joined from our Cape Town studio, by Razeen Dinath, Investment analyst at RE CM.

Economic growth

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Of more importance is the growth of the ratio of GDP to population (GDP per capita, which is also called per capita income). An increase in growth caused by more efficient use of inputs (such as physical capital, population, or territory) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use is called extensive growth.

In economics, "economic growth" or "economic growth theory" typically refers to growth of potential output, i.e., production at "full employment". As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic development process particularly in low-income countries.

Gross domestic product

Gross domestic product (GDP) is a monetary measure of the value of all final goods and services produced in a period (quarterly or yearly). Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons. Nominal GDP however do not reflect differences in the cost of living and the inflation rates of the countries; therefore using a GDP PPP per capita basis is arguably more useful when comparing differences in living standards between nations.

GDP is not a complete measure of economic activity. It accounts for final output or value added at each stage of production, but not total output or total sales along the entire production process. It deliberately leaves out business-to-business (B2B) transactions in the early and intermediate stages of production, as well as sales of used goods. In the United States, the Bureau of Economic Analysis (BEA) has introduced a new quarterly statistic called gross output (GO), a broader measure that attempts to add up total sales or revenues at all stages of production.Mark Skousen was the first economist to advocate GO as an important macroeconomic tool. Other countries are following suit, such as the United Kingdom, which now producing an annual statistic called Total Output.

The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population.

Crash Course

Plot

Crash Course centers on a group of high schoolers in a driver’s education class; many for the second or third time. The recently divorced teacher, super-passive Larry Pearl, is on thin ice with the football fanatic principal, Principal Paulson, who is being pressured by the district superintendent to raise driver’s education completion rates or lose his coveted football program. With this in mind, Principal Paulson and his assistant, with a secret desire for his job, Abner Frasier, hire an outside driver’s education instructor with a very tough reputation, Edna Savage, aka E.W. Savage, who quickly takes control of the class.

The plot focuses mostly on the students and their interactions with their teachers and each other. In the beginning, Rico is the loner with just a few friends, Chadley is the bookish nerd with few friends who longs to be cool and also longs to be a part of Vanessa’s life who is the young, friendly and attractive girl who had to fake her mother’s signature on her driver’s education permission slip. Kichi is the hip-hop Asian kid who often raps what he has to say and constantly flirts with Maria, the rich foreign girl who thinks that the right-of-way on the roadways always goes to (insert awesomely fake foreign Latino accent) “my father’s limo”. Finally you have stereotypical football meathead J.J., who needs to pass his English exam to keep his eligibility and constantly asks out and gets rejected by Alice, the tomboy whose father owns “Santini & Son” Concrete Company. Alice is portrayed as being the “son” her father wanted.

Growth

Growth refers to a positive change in size, and/or maturation, often over a period of time. Growth can occur as a stage of maturation or a process toward fullness or fulfillment. It can also perpetuate endlessly, for example, as detailed by some theories of the ultimate fate of the universe.

Nominal vs. Real GDP

"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not?
To those questions, there’s one figure that can shed at least a partial light: real GDP.
In the previous video, you learned about how to compute GDP. But what you learned to compute was a very particular kind: the nominal GDP, which isn’t adjusted for inflation, and doesn’t account for increases in the population.
A lack of these controls produces a kind of mirage.
For example, compare the US nominal GDP in 1950. It was roughly $320 billion. Pretty good, right? Now compare that with 2015’s nominal GDP: over $17 trillion.
That’s 55 times bigger than in 1950!
But wait. Prices have also increased since 1950. A loaf of bread, which used to cost a dime, now costs a couple dollars. Think back to how GDP is computed. Do you see how price increases impact GDP?
When prices go up, nominal GDP might go up, even if there hasn’t been any real growth in the production of goods and services. Not to mention, the US population has also increased since 1950.
As we said before: without proper controls in place, even if you know how to compute for nominal GDP, all you get is a mirage.
So, how do you calculate real GDP? That’s what you’ll learn today.
In this video, we’ll walk you through the factors that go into the computation of real GDP.
We’ll show you how to distinguish between nominal GDP, which can balloon via rising prices, and real GDP—a figure built on the production of either more goods and services, or more valuable kinds of them. This way, you’ll learn to distinguish between inflation-driven GDP, and improvement-driven GDP.
Oh, and we’ll also show you a handy little tool named FRED — the Federal Reserve Economic Data website.
FRED will help you study how real GDP has changed over the years. It’ll show you what it looks like during healthy times, and during recessions. FRED will help you answer the question, “If prices hadn’t changed, how much would GDP truly have increased?”
FRED will also show you how to account for population, by helping you compute a key figure: real GDP per capita. Once you learn all this, not only will you see past the the nominal GDP-mirage, but you’ll also get an idea of how to answer our central question:
"Are we better off than we were all those years ago?"
Macroeconomics Course: http://bit.ly/1R1PL5x
Ask a question about the video: http://bit.ly/24pzD7X
Next video: http://bit.ly/1TGgR8r
Help us caption & translate this video!
http://amara.org/v/H0PX/

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

5:14

Real GDP Per Capita and the Standard of Living

Real GDP Per Capita and the Standard of Living

Real GDP Per Capita and the Standard of Living

They say what matters most in life are the things money can’t buy.
So far, we’ve been paying attention to a figure that’s intimately linked to the things money can buy. That figure is GDP, both nominal, and real. But before you write off GDP as strictly a measure of wealth, here’s something to think about.
Increases in real GDP per capita also correlate to improvements in those things money can’t buy.
Health. Happiness. Education.
What this means is, as real GDP per capita rises, a country also tends to get related benefits.
As the figure increases, people’s longevity tends to march upward along with it. Citizens tend to be better educated. Over time, growth in real GDP per capita also correlates to an increase in income for the country’s poorest citizens.
But before you think of GDP per capita as a panacea for measuring human progress, here’s a caveat.
GDP per capita, while useful, is not a perfect measure.
For example: GDP per capita is roughly the same in Nigeria, Pakistan, and Honduras. As such, you might think the three countries have about the same standard of living.
But, a much larger portion of Nigeria's population lives on less than $2/day than the other two countries.
This isn’t a question of income, but of income distribution—a matter GDP per capita can’t fully address.
In a way, real GDP per capita is like a thermometer reading—it gives a quick look at temperature, but it doesn’t tell us everything.
It’s far from the end-all, be-all of measuring our state of well-being. Still, it’s worth understanding how GDP per capita correlates to many of the other things we care about: our health, our happiness, and our education.
So join us in this video, as we work to understand how GDP per capita helps us measure a country’s standard of living. As we said: it's not a perfect measure, but it is a useful one.
Macroeconomics Course: http://bit.ly/1R1PL5x
Ask a question about the video: http://bit.ly/1WJcJ5w
Next video: http://bit.ly/1S1CxuA
Help us caption & translate this video!
http://amara.org/v/H04s/

2:57

Everything You Know About Economic Growth Is Wrong

Everything You Know About Economic Growth Is Wrong

Everything You Know About Economic Growth Is Wrong

The conventional wisdom that all growth is good is not based on real science, empirical data, or business reality.

9:10

What is Economic Growth?

What is Economic Growth?

What is Economic Growth?

This A Level Economics video explains what economic growth is and makes a distinction between short run and long term factors that can affect the rate of real GDP growth in a country.
MORE ABOUT TUTOR2U ECONOMICS:
Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more:
https://www.tutor2u.net/economics
A Level Economics Revision Flashcards:
https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards
A Level Economics Example Top Grade Essays:
https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics

2:40

Economic Growth easily explained (explainity® explainer video)

Economic Growth easily explained (explainity® explainer video)

Economic Growth easily explained (explainity® explainer video)

The economy is expected to grow steadily. Politics, industry and trade wish for economic growth. But how can economic growth be measured and might the economy eventually fully grown sometime? Our third clip in cooperation with Deutsche Welle explains "Economic Growth".
This explainer video was produced by explainity GmbH
Homepage: www.explainity.com
E-Mail: info@explainity.com
If you are interested in an own explainity explainer video, visit our website www.explainity.com and contact us. We are looking forward to your inquiry.
You are welcome to use this explainer video for your own purpose and website. Keep in mind that this explainer video must not be altered in regards to content and graphics. If you decide to use it, please credit explainity as the producer and refer to our website at www.explainity.com.

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

1:24

The Formula For Economic Growth

The Formula For Economic Growth

The Formula For Economic Growth

Economic growth increases when more people work more productively. However, economic growth has slowed in the last decade, as increases in productivity and hours worked have fallen to fractions of their previous rates. Returning to rapid economic growth will require policies that encourage individuals to rejoin the workforce and businesses to invest in physical capital.
For more information, please visit the Policyed page here: https://www.policyed.org/intellections/formula-economic-growth/video
Additional resources:
John Taylor argues for policy reforms to promote economic growth in “Can WeRestart The RecoveryAll Over Again?”: http://stanford.io/2tOVoQB or http://bit.ly/2terZD3
In “Slow economic growth as a phase in a policy performance cycle,” John Taylor discusses the reasons and policies behind our poor economic performance: http://stanford.io/2rSa0SI
Read “A Recovery Waiting to BeLiberated” by John Taylor to learn about the policies that can speed up our economic growth here: http://on.wsj.com/2sBwHYA
Watch John Taylor’s testimony before the Financial Services Committee concerning monetary policy here: http://bit.ly/2tOSiME
In an interview with Bloomberg's Kathleen Hays, John Taylor discusses the global financial instability and roles the central banks play: https://bloom.bg/2ttYiLl
Read “Getting OffTrack: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis” by John B. Taylor to learn more about the 2007-2008 financial crisis here: http://hvr.co/2sUwfYf

8:32

Economic Growth vs Stock Market Returns

Economic Growth vs Stock Market Returns

Economic Growth vs Stock Market Returns

(www.abndigital.com)
Investors should be wary of basing investment decisions too heavily on the plethora of economic data they are exposed to on a daily basis, such as GDP growth rates, inflation data amongst others. This as research disproves the existence of a positive relationship between real economic growth and stock market returns. To talk more about these findings, ABN's Bronwyn Nielsen is joined from our Cape Town studio, by Razeen Dinath, Investment analyst at RE CM.

2:48

Geography and Economic Growth

Geography and Economic Growth

Geography and Economic Growth

If you look at the African continent, perhaps the first word to come to mind is "enormous." And that's true. You could fit most of the United States, China, India, and a lot of Europe, into Africa. But if you compare Africa to Europe, Europe has two to three times the length of coastline that Africa has.
But what does coastline length have to do with anything?
Well, coasts mean access to water.
As benign as water might seem, it’s a major driver of economic growth. Adam Smith, the father of modern economics, argued that access to water reduced the cost of trade, and gave merchants access to larger markets. These larger markets incentivized specialization and innovation.
These twin processes ultimately spurred trade activity, and consequently, economic growth.
As an end result, civilization tended to grow wherever trade was easiest.
If you want proof of this, think of a few major cities.
Look at Istanbul, New York, Venice, Hong Kong, London, and similar areas. What do they all have in common? They all sit near a major coast or a major river. In contrast, look at some of the poorest areas in the world—places like Kampala, or Pointe-Noire. These places are all landlocked. Since goods are easier to transport over water than over land, trade in landlocked areas is more expensive.
And what happens when trade is more expensive?
It becomes harder to spark economic growth.
What this all means is economic growth is not only affected by a country’s rules and institutions, but by a country’s natural blessings, or natural hindrances, too. The effects of geography on growth cannot be discounted.
Macroeconomics Course: http://bit.ly/1R1PL5x
Ask a question about the video: http://bit.ly/1QEP6wS
Next video: http://bit.ly/1Q0UHtM
Help us caption & translate this video!
http://amara.org/v/HpAt/

1:02

What Is A Good Rate Of Economic Growth?

What Is A Good Rate Of Economic Growth?

What Is A Good Rate Of Economic Growth?

This measure does not adjust for inflation, it is expressed in nominal terms gdp growth (annual. Percent growth in the third recommended lessons and courses for you order to calculate rate of nominal gdp, we need two numbers different years, year us real gdp table by year, historic, current data. 02% in 2016, not good, not. Overview divided by economic accounts national (gdp, personal income), on average in the fourth quarter of 2016, down from 1. The orange line reflects the average rate of gdp growth since 1953 1 mar 2017 rather, it's likely to stem from manner in which figures aren't fact all that accurate, particularly good statistics, and this is a real gross domestic product (gdp) constant prices refers volume indicator measured rates compared previous year find latest stories, special reports, news & pictures on. 02% in 2016, not good, not. I don't believe india's 7% gdp growth rate not with forbes. Ncaer pegs fy'18 gdp growth at 7. Percent average annual rate the u. Googleusercontent search. Ideal gdp growth rate for the economy balance. Domestic product real gdp forecast oecd data. Has enjoyed since 1950 6 feb 2017 with indonesia's official full year 2016 gdp growth realization falling in between these two qualifiers, it leads to a mixed picture not good, and. 22 jan 2017 president trump has promised 4. 13 oct 2010 perfect gdp increase is neither too fast to create inflation nor too slow to create recession. Countries with highest gdp growth 2015 economy at a glance bureau of economic analysis. In a healthy economy, unemployment and inflation are in balance how do we determine as to much economic growth is actually economists have been debating this since decades. Gdp growth rate the economic timesgdp is unrealistic indonesia gdp at 5. The green line represents the gdp growth during presidency of president obama. The ideal rate is between 2 percent 3. How to calculate real gdp growth rates video & lesson us rate by year s&p 500 pe ratio. 30 mar 2017 that's the entire economic output for the past year. 19 may 2017 report 3 percent u. Economic record president obama politics that work. The gdp growth rate is how much more the economy produced than in previous quarter. Ideal gdp growth rate for the economy balance ideal balance thebalance what is 3306017 url? Q webcache. 22 percent from 1947 until 2017, reaching an all time high of 16. What is an ideal economic (gdp) growth rate? Quoragdp (annual %) economy watchlist of countries by real gdp rate wikipedia. Current us real gdp growth rate is 1. Trump 4% gdp growth promise business insider. Gdp growth rate is unrealistic point below the 3. United states gdp growth rate calendar. A growth rate of 2 3 percent is considered ideal by economic the increase in inflation adjusted market value goods and services produced an economy over time. It is hard to give a right measure of economic growth from one period another in percentage terms. 90 percent in the first quarter 1 nov 2015 after expandin

What is ECONOMIC GROWTH? What does ECONOMIC GROWTH mean? ECONOMIC GROWTH meaning - ECONOMIC GROWTH definition - ECONOMIC GROWTH explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP, usually in per capita terms.
Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure.
The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. Implicitly, this growth rate is the trend in the average level of GDP over the period, which implicitly ignores the fluctuations in the GDP around this trend.
An increase in economic growth caused by more efficient use of inputs (such as labor productivity, physical capital, energy or materials) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use (increased population, new territory) is called extensive growth.
The economic growth rate is calculated from data on GDP estimated by countries´statistical agencies. The rate of growth of GDP/capita is calculated from data on GDP and population for the initial and final periods included in the analysis.
In national income accounting, per capita output can be calculated using the following factors: output per unit of labor input (labor productivity), hours worked (intensity), the percentage of the working age population actually working (participation rate) and the proportion of the working-age population to the total population (demography). "The rate of change of GDP/population is the sum of the rates of change of these four variables plus their cross products."

Macroeconomics provides government policymakers with a set of tools that can be employed to help achieve certain macroeconomic objectives deemed desirable for a nation. For an economy to be considered healthy, three objectives must be met:
-Economic growth: defined as an increase in the nation's output of goods and services over time
-Low unemployment: meaning that nearly everyone who is willing and able to work should be able to find a job, and
-Low inflation: meaning that the average price level of the nation's goods and services should not increase too rapidly over time.
Measuring these three objectives requires the use of some simple mathematical formulas. Once they are known, we can use the basic production possibilities curve diagram to illustrate their effect on a nation's potential output and its current equilibrium level of output.
This lesson will define the three macroeconomic objectives, show how it can be determined whether or not they are being achieved, and use a PPC model to illustrate them.
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870

7:56

Understanding economic growth | APⓇ Macroeconomics | Khan Academy

Understanding economic growth | APⓇ Macroeconomics | Khan Academy

Understanding economic growth | APⓇ Macroeconomics | Khan Academy

In this video, learn about the definition of economic growth and how growth occurs.
AP(R) Macroeconomics on Khan Academy: Macroeconomics is all about how an entire nation’s performance is determined and improved over time. Learn how factors like unemployment, inflation, interest rates, economic growth and recession are caused and how they affect individuals and society as a whole. We hit the traditional topics from an AP Macroeconomics course, including basic economic concepts, economic indicators, and the business cycle, national income and price determination, the financial sector, the long-run consequences of stabilization policies, and international trade and finance.
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
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Nominal vs. Real GDP

"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not?
To those questions, there’s one figure that can shed at least a partial light: real GDP.
In the previous video, you learned about how to compute GDP. But what you learned to compute was a very particular kind: the nominal GDP, which isn’t adjusted for inflation, and doesn’t account for increases in the population.
A lack of these controls produces a kind of mirage.
For example, compare the US nominal GDP in 1950. It was roughly $320 billion. Pretty good, right? Now compare that with 2015’s nominal GDP: over $17 trillion.
That’s 55 ti...

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

published: 16 Mar 2016

Real GDP Per Capita and the Standard of Living

They say what matters most in life are the things money can’t buy.
So far, we’ve been paying attention to a figure that’s intimately linked to the things money can buy. That figure is GDP, both nominal, and real. But before you write off GDP as strictly a measure of wealth, here’s something to think about.
Increases in real GDP per capita also correlate to improvements in those things money can’t buy.
Health. Happiness. Education.
What this means is, as real GDP per capita rises, a country also tends to get related benefits.
As the figure increases, people’s longevity tends to march upward along with it. Citizens tend to be better educated. Over time, growth in real GDP per capita also correlates to an increase in income for the country’s poorest citizens.
But before you think of GD...

published: 20 Nov 2015

Everything You Know About Economic Growth Is Wrong

The conventional wisdom that all growth is good is not based on real science, empirical data, or business reality.

published: 06 Jun 2011

What is Economic Growth?

This A Level Economics video explains what economic growth is and makes a distinction between short run and long term factors that can affect the rate of real GDP growth in a country.
MORE ABOUT TUTOR2U ECONOMICS:
Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more:
https://www.tutor2u.net/economics
A Level Economics Revision Flashcards:
https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards
A Level Economics Example Top Grade Essays:
https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics

published: 20 Apr 2016

Economic Growth easily explained (explainity® explainer video)

The economy is expected to grow steadily. Politics, industry and trade wish for economic growth. But how can economic growth be measured and might the economy eventually fully grown sometime? Our third clip in cooperation with Deutsche Welle explains "Economic Growth".
This explainer video was produced by explainity GmbH
Homepage: www.explainity.com
E-Mail: info@explainity.com
If you are interested in an own explainity explainer video, visit our website www.explainity.com and contact us. We are looking forward to your inquiry.
You are welcome to use this explainer video for your own purpose and website. Keep in mind that this explainer video must not be altered in regards to content and graphics. If you decide to use it, please credit explainity as the producer and refer to our website ...

published: 17 Mar 2014

Productivity and Growth: Crash Course Economics #6

Why are some countries rich? Why are some countries poor? In the end it comes down to Productivity. This week on Crash Course Econ, Adriene and Jacob investigate just why some economies are more productive than others, and what happens when an economy is mor productive. We'll look at how things like per capita GDP translate to the lifestyle of normal people. And, there's a mystery.
Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse
Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever:
Mark, Jan Schmid, Simun Niclasen, Robert Kunz, Daniel Baulig, Jason A Saslow, EricKitchen, Christian, Beatrice Jin, Anna-Ester Volozh, Eric Knight, ElliotBeter, Jeffrey Thomp...

published: 28 Aug 2015

U.S. Economic Growth Nearly 0% as Real Estate Price Index Reaches ALL TIME RECORD HIGH!

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

published: 16 Mar 2016

The Formula For Economic Growth

Economic growth increases when more people work more productively. However, economic growth has slowed in the last decade, as increases in productivity and hours worked have fallen to fractions of their previous rates. Returning to rapid economic growth will require policies that encourage individuals to rejoin the workforce and businesses to invest in physical capital.
For more information, please visit the Policyed page here: https://www.policyed.org/intellections/formula-economic-growth/video
Additional resources:
John Taylor argues for policy reforms to promote economic growth in “Can WeRestart The RecoveryAll Over Again?”: http://stanford.io/2tOVoQB or http://bit.ly/2terZD3
In “Slow economic growth as a phase in a policy performance cycle,” John Taylor discusses the reasons and...

published: 27 Jun 2017

Economic Growth vs Stock Market Returns

(www.abndigital.com)
Investors should be wary of basing investment decisions too heavily on the plethora of economic data they are exposed to on a daily basis, such as GDP growth rates, inflation data amongst others. This as research disproves the existence of a positive relationship between real economic growth and stock market returns. To talk more about these findings, ABN's Bronwyn Nielsen is joined from our Cape Town studio, by Razeen Dinath, Investment analyst at RE CM.

published: 22 May 2012

Geography and Economic Growth

If you look at the African continent, perhaps the first word to come to mind is "enormous." And that's true. You could fit most of the United States, China, India, and a lot of Europe, into Africa. But if you compare Africa to Europe, Europe has two to three times the length of coastline that Africa has.
But what does coastline length have to do with anything?
Well, coasts mean access to water.
As benign as water might seem, it’s a major driver of economic growth. Adam Smith, the father of modern economics, argued that access to water reduced the cost of trade, and gave merchants access to larger markets. These larger markets incentivized specialization and innovation.
These twin processes ultimately spurred trade activity, and consequently, economic growth.
As an end result, civili...

published: 09 Feb 2016

What Is A Good Rate Of Economic Growth?

This measure does not adjust for inflation, it is expressed in nominal terms gdp growth (annual. Percent growth in the third recommended lessons and courses for you order to calculate rate of nominal gdp, we need two numbers different years, year us real gdp table by year, historic, current data. 02% in 2016, not good, not. Overview divided by economic accounts national (gdp, personal income), on average in the fourth quarter of 2016, down from 1. The orange line reflects the average rate of gdp growth since 1953 1 mar 2017 rather, it's likely to stem from manner in which figures aren't fact all that accurate, particularly good statistics, and this is a real gross domestic product (gdp) constant prices refers volume indicator measured rates compared previous year find latest stories, speci...

What is ECONOMIC GROWTH? What does ECONOMIC GROWTH mean? ECONOMIC GROWTH meaning - ECONOMIC GROWTH definition - ECONOMIC GROWTH explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP, usually in per capita terms.
Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of...

Macroeconomics provides government policymakers with a set of tools that can be employed to help achieve certain macroeconomic objectives deemed desirable for a nation. For an economy to be considered healthy, three objectives must be met:
-Economic growth: defined as an increase in the nation's output of goods and services over time
-Low unemployment: meaning that nearly everyone who is willing and able to work should be able to find a job, and
-Low inflation: meaning that the average price level of the nation's goods and services should not increase too rapidly over time.
Measuring these three objectives requires the use of some simple mathematical formulas. Once they are known, we can use the basic production possibilities curve diagram to illustrate their effect on a nation's poten...

published: 29 Mar 2012

Understanding economic growth | APⓇ Macroeconomics | Khan Academy

In this video, learn about the definition of economic growth and how growth occurs.
AP(R) Macroeconomics on Khan Academy: Macroeconomics is all about how an entire nation’s performance is determined and improved over time. Learn how factors like unemployment, inflation, interest rates, economic growth and recession are caused and how they affect individuals and society as a whole. We hit the traditional topics from an AP Macroeconomics course, including basic economic concepts, economic indicators, and the business cycle, national income and price determination, the financial sector, the long-run consequences of stabilization policies, and international trade and finance.
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboa...

Nominal vs. Real GDP

"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we m...

"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not?
To those questions, there’s one figure that can shed at least a partial light: real GDP.
In the previous video, you learned about how to compute GDP. But what you learned to compute was a very particular kind: the nominal GDP, which isn’t adjusted for inflation, and doesn’t account for increases in the population.
A lack of these controls produces a kind of mirage.
For example, compare the US nominal GDP in 1950. It was roughly $320 billion. Pretty good, right? Now compare that with 2015’s nominal GDP: over $17 trillion.
That’s 55 times bigger than in 1950!
But wait. Prices have also increased since 1950. A loaf of bread, which used to cost a dime, now costs a couple dollars. Think back to how GDP is computed. Do you see how price increases impact GDP?
When prices go up, nominal GDP might go up, even if there hasn’t been any real growth in the production of goods and services. Not to mention, the US population has also increased since 1950.
As we said before: without proper controls in place, even if you know how to compute for nominal GDP, all you get is a mirage.
So, how do you calculate real GDP? That’s what you’ll learn today.
In this video, we’ll walk you through the factors that go into the computation of real GDP.
We’ll show you how to distinguish between nominal GDP, which can balloon via rising prices, and real GDP—a figure built on the production of either more goods and services, or more valuable kinds of them. This way, you’ll learn to distinguish between inflation-driven GDP, and improvement-driven GDP.
Oh, and we’ll also show you a handy little tool named FRED — the Federal Reserve Economic Data website.
FRED will help you study how real GDP has changed over the years. It’ll show you what it looks like during healthy times, and during recessions. FRED will help you answer the question, “If prices hadn’t changed, how much would GDP truly have increased?”
FRED will also show you how to account for population, by helping you compute a key figure: real GDP per capita. Once you learn all this, not only will you see past the the nominal GDP-mirage, but you’ll also get an idea of how to answer our central question:
"Are we better off than we were all those years ago?"
Macroeconomics Course: http://bit.ly/1R1PL5x
Ask a question about the video: http://bit.ly/24pzD7X
Next video: http://bit.ly/1TGgR8r
Help us caption & translate this video!
http://amara.org/v/H0PX/

"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not?
To those questions, there’s one figure that can shed at least a partial light: real GDP.
In the previous video, you learned about how to compute GDP. But what you learned to compute was a very particular kind: the nominal GDP, which isn’t adjusted for inflation, and doesn’t account for increases in the population.
A lack of these controls produces a kind of mirage.
For example, compare the US nominal GDP in 1950. It was roughly $320 billion. Pretty good, right? Now compare that with 2015’s nominal GDP: over $17 trillion.
That’s 55 times bigger than in 1950!
But wait. Prices have also increased since 1950. A loaf of bread, which used to cost a dime, now costs a couple dollars. Think back to how GDP is computed. Do you see how price increases impact GDP?
When prices go up, nominal GDP might go up, even if there hasn’t been any real growth in the production of goods and services. Not to mention, the US population has also increased since 1950.
As we said before: without proper controls in place, even if you know how to compute for nominal GDP, all you get is a mirage.
So, how do you calculate real GDP? That’s what you’ll learn today.
In this video, we’ll walk you through the factors that go into the computation of real GDP.
We’ll show you how to distinguish between nominal GDP, which can balloon via rising prices, and real GDP—a figure built on the production of either more goods and services, or more valuable kinds of them. This way, you’ll learn to distinguish between inflation-driven GDP, and improvement-driven GDP.
Oh, and we’ll also show you a handy little tool named FRED — the Federal Reserve Economic Data website.
FRED will help you study how real GDP has changed over the years. It’ll show you what it looks like during healthy times, and during recessions. FRED will help you answer the question, “If prices hadn’t changed, how much would GDP truly have increased?”
FRED will also show you how to account for population, by helping you compute a key figure: real GDP per capita. Once you learn all this, not only will you see past the the nominal GDP-mirage, but you’ll also get an idea of how to answer our central question:
"Are we better off than we were all those years ago?"
Macroeconomics Course: http://bit.ly/1R1PL5x
Ask a question about the video: http://bit.ly/24pzD7X
Next video: http://bit.ly/1TGgR8r
Help us caption & translate this video!
http://amara.org/v/H0PX/

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the...

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

Real GDP Per Capita and the Standard of Living

They say what matters most in life are the things money can’t buy.
So far, we’ve been paying attention to a figure that’s intimately linked to the things money...

They say what matters most in life are the things money can’t buy.
So far, we’ve been paying attention to a figure that’s intimately linked to the things money can buy. That figure is GDP, both nominal, and real. But before you write off GDP as strictly a measure of wealth, here’s something to think about.
Increases in real GDP per capita also correlate to improvements in those things money can’t buy.
Health. Happiness. Education.
What this means is, as real GDP per capita rises, a country also tends to get related benefits.
As the figure increases, people’s longevity tends to march upward along with it. Citizens tend to be better educated. Over time, growth in real GDP per capita also correlates to an increase in income for the country’s poorest citizens.
But before you think of GDP per capita as a panacea for measuring human progress, here’s a caveat.
GDP per capita, while useful, is not a perfect measure.
For example: GDP per capita is roughly the same in Nigeria, Pakistan, and Honduras. As such, you might think the three countries have about the same standard of living.
But, a much larger portion of Nigeria's population lives on less than $2/day than the other two countries.
This isn’t a question of income, but of income distribution—a matter GDP per capita can’t fully address.
In a way, real GDP per capita is like a thermometer reading—it gives a quick look at temperature, but it doesn’t tell us everything.
It’s far from the end-all, be-all of measuring our state of well-being. Still, it’s worth understanding how GDP per capita correlates to many of the other things we care about: our health, our happiness, and our education.
So join us in this video, as we work to understand how GDP per capita helps us measure a country’s standard of living. As we said: it's not a perfect measure, but it is a useful one.
Macroeconomics Course: http://bit.ly/1R1PL5x
Ask a question about the video: http://bit.ly/1WJcJ5w
Next video: http://bit.ly/1S1CxuA
Help us caption & translate this video!
http://amara.org/v/H04s/

They say what matters most in life are the things money can’t buy.
So far, we’ve been paying attention to a figure that’s intimately linked to the things money can buy. That figure is GDP, both nominal, and real. But before you write off GDP as strictly a measure of wealth, here’s something to think about.
Increases in real GDP per capita also correlate to improvements in those things money can’t buy.
Health. Happiness. Education.
What this means is, as real GDP per capita rises, a country also tends to get related benefits.
As the figure increases, people’s longevity tends to march upward along with it. Citizens tend to be better educated. Over time, growth in real GDP per capita also correlates to an increase in income for the country’s poorest citizens.
But before you think of GDP per capita as a panacea for measuring human progress, here’s a caveat.
GDP per capita, while useful, is not a perfect measure.
For example: GDP per capita is roughly the same in Nigeria, Pakistan, and Honduras. As such, you might think the three countries have about the same standard of living.
But, a much larger portion of Nigeria's population lives on less than $2/day than the other two countries.
This isn’t a question of income, but of income distribution—a matter GDP per capita can’t fully address.
In a way, real GDP per capita is like a thermometer reading—it gives a quick look at temperature, but it doesn’t tell us everything.
It’s far from the end-all, be-all of measuring our state of well-being. Still, it’s worth understanding how GDP per capita correlates to many of the other things we care about: our health, our happiness, and our education.
So join us in this video, as we work to understand how GDP per capita helps us measure a country’s standard of living. As we said: it's not a perfect measure, but it is a useful one.
Macroeconomics Course: http://bit.ly/1R1PL5x
Ask a question about the video: http://bit.ly/1WJcJ5w
Next video: http://bit.ly/1S1CxuA
Help us caption & translate this video!
http://amara.org/v/H04s/

What is Economic Growth?

This A Level Economics video explains what economic growth is and makes a distinction between short run and long term factors that can affect the rate of real G...

This A Level Economics video explains what economic growth is and makes a distinction between short run and long term factors that can affect the rate of real GDP growth in a country.
MORE ABOUT TUTOR2U ECONOMICS:
Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more:
https://www.tutor2u.net/economics
A Level Economics Revision Flashcards:
https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards
A Level Economics Example Top Grade Essays:
https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics

This A Level Economics video explains what economic growth is and makes a distinction between short run and long term factors that can affect the rate of real GDP growth in a country.
MORE ABOUT TUTOR2U ECONOMICS:
Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more:
https://www.tutor2u.net/economics
A Level Economics Revision Flashcards:
https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards
A Level Economics Example Top Grade Essays:
https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics

Economic Growth easily explained (explainity® explainer video)

The economy is expected to grow steadily. Politics, industry and trade wish for economic growth. But how can economic growth be measured and might the economy e...

The economy is expected to grow steadily. Politics, industry and trade wish for economic growth. But how can economic growth be measured and might the economy eventually fully grown sometime? Our third clip in cooperation with Deutsche Welle explains "Economic Growth".
This explainer video was produced by explainity GmbH
Homepage: www.explainity.com
E-Mail: info@explainity.com
If you are interested in an own explainity explainer video, visit our website www.explainity.com and contact us. We are looking forward to your inquiry.
You are welcome to use this explainer video for your own purpose and website. Keep in mind that this explainer video must not be altered in regards to content and graphics. If you decide to use it, please credit explainity as the producer and refer to our website at www.explainity.com.

The economy is expected to grow steadily. Politics, industry and trade wish for economic growth. But how can economic growth be measured and might the economy eventually fully grown sometime? Our third clip in cooperation with Deutsche Welle explains "Economic Growth".
This explainer video was produced by explainity GmbH
Homepage: www.explainity.com
E-Mail: info@explainity.com
If you are interested in an own explainity explainer video, visit our website www.explainity.com and contact us. We are looking forward to your inquiry.
You are welcome to use this explainer video for your own purpose and website. Keep in mind that this explainer video must not be altered in regards to content and graphics. If you decide to use it, please credit explainity as the producer and refer to our website at www.explainity.com.

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the...

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

The Formula For Economic Growth

Economic growth increases when more people work more productively. However, economic growth has slowed in the last decade, as increases in productivity and hour...

Economic growth increases when more people work more productively. However, economic growth has slowed in the last decade, as increases in productivity and hours worked have fallen to fractions of their previous rates. Returning to rapid economic growth will require policies that encourage individuals to rejoin the workforce and businesses to invest in physical capital.
For more information, please visit the Policyed page here: https://www.policyed.org/intellections/formula-economic-growth/video
Additional resources:
John Taylor argues for policy reforms to promote economic growth in “Can WeRestart The RecoveryAll Over Again?”: http://stanford.io/2tOVoQB or http://bit.ly/2terZD3
In “Slow economic growth as a phase in a policy performance cycle,” John Taylor discusses the reasons and policies behind our poor economic performance: http://stanford.io/2rSa0SI
Read “A Recovery Waiting to BeLiberated” by John Taylor to learn about the policies that can speed up our economic growth here: http://on.wsj.com/2sBwHYA
Watch John Taylor’s testimony before the Financial Services Committee concerning monetary policy here: http://bit.ly/2tOSiME
In an interview with Bloomberg's Kathleen Hays, John Taylor discusses the global financial instability and roles the central banks play: https://bloom.bg/2ttYiLl
Read “Getting OffTrack: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis” by John B. Taylor to learn more about the 2007-2008 financial crisis here: http://hvr.co/2sUwfYf

Economic growth increases when more people work more productively. However, economic growth has slowed in the last decade, as increases in productivity and hours worked have fallen to fractions of their previous rates. Returning to rapid economic growth will require policies that encourage individuals to rejoin the workforce and businesses to invest in physical capital.
For more information, please visit the Policyed page here: https://www.policyed.org/intellections/formula-economic-growth/video
Additional resources:
John Taylor argues for policy reforms to promote economic growth in “Can WeRestart The RecoveryAll Over Again?”: http://stanford.io/2tOVoQB or http://bit.ly/2terZD3
In “Slow economic growth as a phase in a policy performance cycle,” John Taylor discusses the reasons and policies behind our poor economic performance: http://stanford.io/2rSa0SI
Read “A Recovery Waiting to BeLiberated” by John Taylor to learn about the policies that can speed up our economic growth here: http://on.wsj.com/2sBwHYA
Watch John Taylor’s testimony before the Financial Services Committee concerning monetary policy here: http://bit.ly/2tOSiME
In an interview with Bloomberg's Kathleen Hays, John Taylor discusses the global financial instability and roles the central banks play: https://bloom.bg/2ttYiLl
Read “Getting OffTrack: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis” by John B. Taylor to learn more about the 2007-2008 financial crisis here: http://hvr.co/2sUwfYf

Economic Growth vs Stock Market Returns

(www.abndigital.com)
Investors should be wary of basing investment decisions too heavily on the plethora of economic data they are exposed to on a daily basis, ...

(www.abndigital.com)
Investors should be wary of basing investment decisions too heavily on the plethora of economic data they are exposed to on a daily basis, such as GDP growth rates, inflation data amongst others. This as research disproves the existence of a positive relationship between real economic growth and stock market returns. To talk more about these findings, ABN's Bronwyn Nielsen is joined from our Cape Town studio, by Razeen Dinath, Investment analyst at RE CM.

(www.abndigital.com)
Investors should be wary of basing investment decisions too heavily on the plethora of economic data they are exposed to on a daily basis, such as GDP growth rates, inflation data amongst others. This as research disproves the existence of a positive relationship between real economic growth and stock market returns. To talk more about these findings, ABN's Bronwyn Nielsen is joined from our Cape Town studio, by Razeen Dinath, Investment analyst at RE CM.

If you look at the African continent, perhaps the first word to come to mind is "enormous." And that's true. You could fit most of the United States, China, India, and a lot of Europe, into Africa. But if you compare Africa to Europe, Europe has two to three times the length of coastline that Africa has.
But what does coastline length have to do with anything?
Well, coasts mean access to water.
As benign as water might seem, it’s a major driver of economic growth. Adam Smith, the father of modern economics, argued that access to water reduced the cost of trade, and gave merchants access to larger markets. These larger markets incentivized specialization and innovation.
These twin processes ultimately spurred trade activity, and consequently, economic growth.
As an end result, civilization tended to grow wherever trade was easiest.
If you want proof of this, think of a few major cities.
Look at Istanbul, New York, Venice, Hong Kong, London, and similar areas. What do they all have in common? They all sit near a major coast or a major river. In contrast, look at some of the poorest areas in the world—places like Kampala, or Pointe-Noire. These places are all landlocked. Since goods are easier to transport over water than over land, trade in landlocked areas is more expensive.
And what happens when trade is more expensive?
It becomes harder to spark economic growth.
What this all means is economic growth is not only affected by a country’s rules and institutions, but by a country’s natural blessings, or natural hindrances, too. The effects of geography on growth cannot be discounted.
Macroeconomics Course: http://bit.ly/1R1PL5x
Ask a question about the video: http://bit.ly/1QEP6wS
Next video: http://bit.ly/1Q0UHtM
Help us caption & translate this video!
http://amara.org/v/HpAt/

If you look at the African continent, perhaps the first word to come to mind is "enormous." And that's true. You could fit most of the United States, China, India, and a lot of Europe, into Africa. But if you compare Africa to Europe, Europe has two to three times the length of coastline that Africa has.
But what does coastline length have to do with anything?
Well, coasts mean access to water.
As benign as water might seem, it’s a major driver of economic growth. Adam Smith, the father of modern economics, argued that access to water reduced the cost of trade, and gave merchants access to larger markets. These larger markets incentivized specialization and innovation.
These twin processes ultimately spurred trade activity, and consequently, economic growth.
As an end result, civilization tended to grow wherever trade was easiest.
If you want proof of this, think of a few major cities.
Look at Istanbul, New York, Venice, Hong Kong, London, and similar areas. What do they all have in common? They all sit near a major coast or a major river. In contrast, look at some of the poorest areas in the world—places like Kampala, or Pointe-Noire. These places are all landlocked. Since goods are easier to transport over water than over land, trade in landlocked areas is more expensive.
And what happens when trade is more expensive?
It becomes harder to spark economic growth.
What this all means is economic growth is not only affected by a country’s rules and institutions, but by a country’s natural blessings, or natural hindrances, too. The effects of geography on growth cannot be discounted.
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What Is A Good Rate Of Economic Growth?

This measure does not adjust for inflation, it is expressed in nominal terms gdp growth (annual. Percent growth in the third recommended lessons and courses for...

This measure does not adjust for inflation, it is expressed in nominal terms gdp growth (annual. Percent growth in the third recommended lessons and courses for you order to calculate rate of nominal gdp, we need two numbers different years, year us real gdp table by year, historic, current data. 02% in 2016, not good, not. Overview divided by economic accounts national (gdp, personal income), on average in the fourth quarter of 2016, down from 1. The orange line reflects the average rate of gdp growth since 1953 1 mar 2017 rather, it's likely to stem from manner in which figures aren't fact all that accurate, particularly good statistics, and this is a real gross domestic product (gdp) constant prices refers volume indicator measured rates compared previous year find latest stories, special reports, news & pictures on. 02% in 2016, not good, not. I don't believe india's 7% gdp growth rate not with forbes. Ncaer pegs fy'18 gdp growth at 7. Percent average annual rate the u. Googleusercontent search. Ideal gdp growth rate for the economy balance. Domestic product real gdp forecast oecd data. Has enjoyed since 1950 6 feb 2017 with indonesia's official full year 2016 gdp growth realization falling in between these two qualifiers, it leads to a mixed picture not good, and. 22 jan 2017 president trump has promised 4. 13 oct 2010 perfect gdp increase is neither too fast to create inflation nor too slow to create recession. Countries with highest gdp growth 2015 economy at a glance bureau of economic analysis. In a healthy economy, unemployment and inflation are in balance how do we determine as to much economic growth is actually economists have been debating this since decades. Gdp growth rate the economic timesgdp is unrealistic indonesia gdp at 5. The green line represents the gdp growth during presidency of president obama. The ideal rate is between 2 percent 3. How to calculate real gdp growth rates video & lesson us rate by year s&p 500 pe ratio. 30 mar 2017 that's the entire economic output for the past year. 19 may 2017 report 3 percent u. Economic record president obama politics that work. The gdp growth rate is how much more the economy produced than in previous quarter. Ideal gdp growth rate for the economy balance ideal balance thebalance what is 3306017 url? Q webcache. 22 percent from 1947 until 2017, reaching an all time high of 16. What is an ideal economic (gdp) growth rate? Quoragdp (annual %) economy watchlist of countries by real gdp rate wikipedia. Current us real gdp growth rate is 1. Trump 4% gdp growth promise business insider. Gdp growth rate is unrealistic point below the 3. United states gdp growth rate calendar. A growth rate of 2 3 percent is considered ideal by economic the increase in inflation adjusted market value goods and services produced an economy over time. It is hard to give a right measure of economic growth from one period another in percentage terms. 90 percent in the first quarter 1 nov 2015 after expandin

This measure does not adjust for inflation, it is expressed in nominal terms gdp growth (annual. Percent growth in the third recommended lessons and courses for you order to calculate rate of nominal gdp, we need two numbers different years, year us real gdp table by year, historic, current data. 02% in 2016, not good, not. Overview divided by economic accounts national (gdp, personal income), on average in the fourth quarter of 2016, down from 1. The orange line reflects the average rate of gdp growth since 1953 1 mar 2017 rather, it's likely to stem from manner in which figures aren't fact all that accurate, particularly good statistics, and this is a real gross domestic product (gdp) constant prices refers volume indicator measured rates compared previous year find latest stories, special reports, news & pictures on. 02% in 2016, not good, not. I don't believe india's 7% gdp growth rate not with forbes. Ncaer pegs fy'18 gdp growth at 7. Percent average annual rate the u. Googleusercontent search. Ideal gdp growth rate for the economy balance. Domestic product real gdp forecast oecd data. Has enjoyed since 1950 6 feb 2017 with indonesia's official full year 2016 gdp growth realization falling in between these two qualifiers, it leads to a mixed picture not good, and. 22 jan 2017 president trump has promised 4. 13 oct 2010 perfect gdp increase is neither too fast to create inflation nor too slow to create recession. Countries with highest gdp growth 2015 economy at a glance bureau of economic analysis. In a healthy economy, unemployment and inflation are in balance how do we determine as to much economic growth is actually economists have been debating this since decades. Gdp growth rate the economic timesgdp is unrealistic indonesia gdp at 5. The green line represents the gdp growth during presidency of president obama. The ideal rate is between 2 percent 3. How to calculate real gdp growth rates video & lesson us rate by year s&p 500 pe ratio. 30 mar 2017 that's the entire economic output for the past year. 19 may 2017 report 3 percent u. Economic record president obama politics that work. The gdp growth rate is how much more the economy produced than in previous quarter. Ideal gdp growth rate for the economy balance ideal balance thebalance what is 3306017 url? Q webcache. 22 percent from 1947 until 2017, reaching an all time high of 16. What is an ideal economic (gdp) growth rate? Quoragdp (annual %) economy watchlist of countries by real gdp rate wikipedia. Current us real gdp growth rate is 1. Trump 4% gdp growth promise business insider. Gdp growth rate is unrealistic point below the 3. United states gdp growth rate calendar. A growth rate of 2 3 percent is considered ideal by economic the increase in inflation adjusted market value goods and services produced an economy over time. It is hard to give a right measure of economic growth from one period another in percentage terms. 90 percent in the first quarter 1 nov 2015 after expandin

What is ECONOMIC GROWTH? What does ECONOMIC GROWTH mean? ECONOMIC GROWTH meaning - ECONOMIC GROWTH definition - ECONOMIC GROWTH explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP, usually in per capita terms.
Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure.
The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. Implicitly, this growth rate is the trend in the average level of GDP over the period, which implicitly ignores the fluctuations in the GDP around this trend.
An increase in economic growth caused by more efficient use of inputs (such as labor productivity, physical capital, energy or materials) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use (increased population, new territory) is called extensive growth.
The economic growth rate is calculated from data on GDP estimated by countries´statistical agencies. The rate of growth of GDP/capita is calculated from data on GDP and population for the initial and final periods included in the analysis.
In national income accounting, per capita output can be calculated using the following factors: output per unit of labor input (labor productivity), hours worked (intensity), the percentage of the working age population actually working (participation rate) and the proportion of the working-age population to the total population (demography). "The rate of change of GDP/population is the sum of the rates of change of these four variables plus their cross products."

What is ECONOMIC GROWTH? What does ECONOMIC GROWTH mean? ECONOMIC GROWTH meaning - ECONOMIC GROWTH definition - ECONOMIC GROWTH explanation.
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP, usually in per capita terms.
Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure.
The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. Implicitly, this growth rate is the trend in the average level of GDP over the period, which implicitly ignores the fluctuations in the GDP around this trend.
An increase in economic growth caused by more efficient use of inputs (such as labor productivity, physical capital, energy or materials) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use (increased population, new territory) is called extensive growth.
The economic growth rate is calculated from data on GDP estimated by countries´statistical agencies. The rate of growth of GDP/capita is calculated from data on GDP and population for the initial and final periods included in the analysis.
In national income accounting, per capita output can be calculated using the following factors: output per unit of labor input (labor productivity), hours worked (intensity), the percentage of the working age population actually working (participation rate) and the proportion of the working-age population to the total population (demography). "The rate of change of GDP/population is the sum of the rates of change of these four variables plus their cross products."

Macroeconomics provides government policymakers with a set of tools that can be employed to help achieve certain macroeconomic objectives deemed desirable for a...

Macroeconomics provides government policymakers with a set of tools that can be employed to help achieve certain macroeconomic objectives deemed desirable for a nation. For an economy to be considered healthy, three objectives must be met:
-Economic growth: defined as an increase in the nation's output of goods and services over time
-Low unemployment: meaning that nearly everyone who is willing and able to work should be able to find a job, and
-Low inflation: meaning that the average price level of the nation's goods and services should not increase too rapidly over time.
Measuring these three objectives requires the use of some simple mathematical formulas. Once they are known, we can use the basic production possibilities curve diagram to illustrate their effect on a nation's potential output and its current equilibrium level of output.
This lesson will define the three macroeconomic objectives, show how it can be determined whether or not they are being achieved, and use a PPC model to illustrate them.
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870

Macroeconomics provides government policymakers with a set of tools that can be employed to help achieve certain macroeconomic objectives deemed desirable for a nation. For an economy to be considered healthy, three objectives must be met:
-Economic growth: defined as an increase in the nation's output of goods and services over time
-Low unemployment: meaning that nearly everyone who is willing and able to work should be able to find a job, and
-Low inflation: meaning that the average price level of the nation's goods and services should not increase too rapidly over time.
Measuring these three objectives requires the use of some simple mathematical formulas. Once they are known, we can use the basic production possibilities curve diagram to illustrate their effect on a nation's potential output and its current equilibrium level of output.
This lesson will define the three macroeconomic objectives, show how it can be determined whether or not they are being achieved, and use a PPC model to illustrate them.
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870

Understanding economic growth | APⓇ Macroeconomics | Khan Academy

In this video, learn about the definition of economic growth and how growth occurs.
AP(R) Macroeconomics on Khan Academy: Macroeconomics is all about how an en...

In this video, learn about the definition of economic growth and how growth occurs.
AP(R) Macroeconomics on Khan Academy: Macroeconomics is all about how an entire nation’s performance is determined and improved over time. Learn how factors like unemployment, inflation, interest rates, economic growth and recession are caused and how they affect individuals and society as a whole. We hit the traditional topics from an AP Macroeconomics course, including basic economic concepts, economic indicators, and the business cycle, national income and price determination, the financial sector, the long-run consequences of stabilization policies, and international trade and finance.
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
https://www.youtube.com/subscription_center?add_user=khanacademy

In this video, learn about the definition of economic growth and how growth occurs.
AP(R) Macroeconomics on Khan Academy: Macroeconomics is all about how an entire nation’s performance is determined and improved over time. Learn how factors like unemployment, inflation, interest rates, economic growth and recession are caused and how they affect individuals and society as a whole. We hit the traditional topics from an AP Macroeconomics course, including basic economic concepts, economic indicators, and the business cycle, national income and price determination, the financial sector, the long-run consequences of stabilization policies, and international trade and finance.
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
https://www.youtube.com/subscription_center?add_user=khanacademy

In Part II of this series on Economc Growth, GordonTLong and Ty Andros discuss REAL growth versus nominal growth, the deflator, inflation and the distortion that the misleading reporting of growth is creating, both in America and globally.

11.1 Basics of Economic Growth

Updated for 2018. This CFA exam prep video lecture covers:
Aggregate output and income
Gross Domestic Product (GDP) and its calculations
Nominal and real GDP
For the COMPLETE SET of 2018 Level I CFA Videos sign up for the IFT Level I FREE VIDEOS Package: https://ift.world/free
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For more videos, notes, practice questions, mock exams and more visit: https://www.ift.world/
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published: 10 Jan 2018

The Source of Economic Growth

AtlasSummit2015 -- No school of economic thought is consistent with Objectivism, which is why Ayn Rand, in the very first sentences of "Capitalism: The UnknownIdeal", said “This book is not a treatise on economics. It is a collection of essays on the moral aspects of capitalism.” Patent attorney and novelist DaleHalling proposes a science of economics that is consistent with Rand’s philosophy. The path to that understanding of economics results from examining the source of real per capita increases in wealth, which puts man’s mind at the center of economics. No other school of economics puts emphasis on man’s mind, which is one reason why Rand had a tenuous relationship with even free market economists, see, for instance, Milton Friedman on Rand and Mises (YouTube) and "Can the Ideas o...

published: 31 Aug 2015

Alternatives to the Growth Economy — Examples from the Real World

The growth economy is historically relatively recent, and is now consuming 1.5 Earths and growing. Compound interest is sucking the lifeblood out of the real economy, from households to countries. Mike Lewis, co-author of The ResilienceImperative, tells the story of the successful JAK cooperative Bank in Sweden, which is based on saving on behalf of others and uses only simple interest. It’s one example from the book which illuminates “alternate pathways to move from a growth imperative to a resilience imperative… It presumes we will transition ourselves back to one Earth and find a different way of dealing with a number of ways we meet our basic needs — whether it’s with food, energy, shelter, land, or finance (an important part of the problem).” Don’t miss his stunning hungry hamster ex...

published: 26 Sep 2016

Is the Party Over for Economic Growth? When economic stagnation becomes the new normal

It was a blast. Since the Industrial Revolution, we enjoyed unprecedented economic growth, propelled by a seemingly unstoppable wave of technological innovation. For 100 years from around 1870, life in the West was transformed by inventions such as electricity, the car and domestic appliances, which led to soaring growth, better lives and booming wealth for all. The poor became less poor, and the number of middle income earners exploded. In the second half of the 20th century the rest of the world began to catch up, with China lifting hundreds of millions out of extreme poverty and the rise of the BRICs.
But then it stopped. Since around 1970, middle incomes in the US have stagnated, while the top 1% have pulled away in terms of earnings and wealth. Productivity growth fell. The great rec...

published: 05 Jul 2016

Macro Unit 2 Summary- Measuring the Economy

Hey, this is JacobClifford and welcome to the MacroUnit 2 Summary. This unit is about measuring the economy and covers topics like GDP (1:04), the business cycle (6:15), unemployment (7:28), the types of unemployment, the natural rate of unemployment, inflation (12:14), CPI, GDP deflato (17:59), and the causes of inflation (19:52). It also includes a pretty awesome Bonus Round (11:23). Be sure to subscribe and get the ultimate review packet. Thanks for watching.
Get the packet and support ACDCEcon
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PracticeMultiple ChoiceQuestions for Macro Unit 2
https://www.youtube.com/watch?v=Ks5MBWBdmQo
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published: 11 Jan 2016

Africa’s lions: Growth traps and opportunities for six African economies

On November 3, the AfricaGrowthInitiative at Brookings hosted a conversation on the new book “Africa’s Lions: Growth Traps and Opportunities for Six African Economies,” which examines the key constraints facing six African economies as they attempt to maintain a long-run economic growth and development trajectory while navigating obstacles to job creation and Africa’s unique structural transformation.
https://www.brookings.edu/events/africas-lions-growth-traps-and-opportunities-for-six-african-economies/ (transcript available)
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published: 07 Nov 2016

The Real Adam Smith: Ideas That Changed The World - Full Video

The RealAdam Smith: A PersonalExploration by Johan Norberg, takes an intriguing, two-part look at Smith and the evolution and relevance of his ideas today, both economic and ethical. It’s difficult to imagine that a man who lived with horse drawn carriages and sailing ships would foresee our massive 21st century global market exchange, much less the relationship between markets and morality. But Adam Smith was no ordinary 18th century figure. Considered the “father of modern economics,” Smith was first and foremost a moral philosopher. The revolutionary ideas he penned in The Wealth of Nations and The Theory of Moral Sentiments, changed the world. Norberg explores Smith’s insights regarding free trade and the nature of wealth to the present, where they are thriving and driving the world...

The Environment and Innovation: What are the real costs

For the most part, economic policy makers continue to make the case that growth should be the over-arching policy objective. In this context, environmentalism often is seen as a cost, a trade- off that inhibits the primary growth objective.
But such assumptions are increasingly belied by the literature on environmental and resource limits to growth, on the disconnect between higher incomes and happiness, and on the failure of economic growth to meet other key economic, social, and environmental policy objectives. Many now also argue that innovating to solve climate problems would be hugely profitable for companies and nations that do it. This panel addresses these possibilities.
Thomas Heller, Executive Director, ClimatePolicyInitiativeThomas Homer Dixon, Chair, GlobalSystems, Centr...

What is Economic Growth? | Definition of Economic Growth

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.
Overview:
Growth is usually calculated in real terms - i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth rates of nations is commonly compared using the ratio of the GDP to population or per-capita income.
The "rate of economic growth" refers to the geometric an...

published: 03 Dec 2017

Economic growth

Economic growth is the increase in the market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Of more importance is the growth of the ratio of GDP to population , which is also called per capita income. An increase in per capita income is referred to as intensive growth. GDP growth caused only by increases in population or territory is called extensive growth.
This video targeted to blind users.
Attribution:
Article text available under CC-BY-SACreative Commons image source in video

How Sustainable Development Can Lead to Economic Growth: Finland, Indonesia, and Mexico (2011)

Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Growth is usually calculated in real terms -- i.e., inflation-adjusted terms -- to eliminate the distorting effect of inflation on the price of goods produced. In economics, "economic growth" or "economic growth theory" typically refers to growth of potential output, i.e., production at "full employment".
As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic aspects of the development process in low-income countries. See also...

published: 21 Aug 2013

Glenn Hubbard on US Economic Growth

Since the Great Recession ended, annual US economic growth in real terms has averaged 2.2%, a meager rate according to Glenn Hubbard. Economists disagree on the cause of this pace: has secular stagnation—a condition of negligible or no economic growth—created a new normal? Or, did macroeconomic policies enacted before and during the crisis slow growth? Hubbard, former economic advisor to President George W. Bush, believes the latter. According to him, America can grow faster through a focus on long-term issues, including tax and regulatory reform and free trade policies.

In Part II of this series on Economc Growth, GordonTLong and Ty Andros discuss REAL growth versus nominal growth, the deflator, inflation and the distortion tha...

In Part II of this series on Economc Growth, GordonTLong and Ty Andros discuss REAL growth versus nominal growth, the deflator, inflation and the distortion that the misleading reporting of growth is creating, both in America and globally.

In Part II of this series on Economc Growth, GordonTLong and Ty Andros discuss REAL growth versus nominal growth, the deflator, inflation and the distortion that the misleading reporting of growth is creating, both in America and globally.

Updated for 2018. This CFA exam prep video lecture covers:
Aggregate output and income
Gross Domestic Product (GDP) and its calculations
Nominal and real GDP
For the COMPLETE SET of 2018 Level I CFA Videos sign up for the IFT Level I FREE VIDEOS Package: https://ift.world/free
Subscribe now: http://www.youtube.com/user/arifirfanullah?sub_confirmation=1
For more videos, notes, practice questions, mock exams and more visit: https://www.ift.world/
Visit us on Facebook: https://www.facebook.com/Pass.with.IFT/

Updated for 2018. This CFA exam prep video lecture covers:
Aggregate output and income
Gross Domestic Product (GDP) and its calculations
Nominal and real GDP
For the COMPLETE SET of 2018 Level I CFA Videos sign up for the IFT Level I FREE VIDEOS Package: https://ift.world/free
Subscribe now: http://www.youtube.com/user/arifirfanullah?sub_confirmation=1
For more videos, notes, practice questions, mock exams and more visit: https://www.ift.world/
Visit us on Facebook: https://www.facebook.com/Pass.with.IFT/

AtlasSummit2015 -- No school of economic thought is consistent with Objectivism, which is why Ayn Rand, in the very first sentences of "Capitalism: The UnknownIdeal", said “This book is not a treatise on economics. It is a collection of essays on the moral aspects of capitalism.” Patent attorney and novelist DaleHalling proposes a science of economics that is consistent with Rand’s philosophy. The path to that understanding of economics results from examining the source of real per capita increases in wealth, which puts man’s mind at the center of economics. No other school of economics puts emphasis on man’s mind, which is one reason why Rand had a tenuous relationship with even free market economists, see, for instance, Milton Friedman on Rand and Mises (YouTube) and "Can the Ideas of Mises and Rand be Reconciled?" by Edward Younkins.

AtlasSummit2015 -- No school of economic thought is consistent with Objectivism, which is why Ayn Rand, in the very first sentences of "Capitalism: The UnknownIdeal", said “This book is not a treatise on economics. It is a collection of essays on the moral aspects of capitalism.” Patent attorney and novelist DaleHalling proposes a science of economics that is consistent with Rand’s philosophy. The path to that understanding of economics results from examining the source of real per capita increases in wealth, which puts man’s mind at the center of economics. No other school of economics puts emphasis on man’s mind, which is one reason why Rand had a tenuous relationship with even free market economists, see, for instance, Milton Friedman on Rand and Mises (YouTube) and "Can the Ideas of Mises and Rand be Reconciled?" by Edward Younkins.

Alternatives to the Growth Economy — Examples from the Real World

The growth economy is historically relatively recent, and is now consuming 1.5 Earths and growing. Compound interest is sucking the lifeblood out of the real ec...

The growth economy is historically relatively recent, and is now consuming 1.5 Earths and growing. Compound interest is sucking the lifeblood out of the real economy, from households to countries. Mike Lewis, co-author of The ResilienceImperative, tells the story of the successful JAK cooperative Bank in Sweden, which is based on saving on behalf of others and uses only simple interest. It’s one example from the book which illuminates “alternate pathways to move from a growth imperative to a resilience imperative… It presumes we will transition ourselves back to one Earth and find a different way of dealing with a number of ways we meet our basic needs — whether it’s with food, energy, shelter, land, or finance (an important part of the problem).” Don’t miss his stunning hungry hamster example of compound interest at work! Episode 315 [http://communityrenewal.ca]
For info on the JAK bank: https://en.wikipedia.org/wiki/JAK_Members_Bank
Thanks for being in the Peak Moment viewer community!
Subscribe to peakmoment channel on YouTube for more great shows on grass roots pioneers forging a post-growth culture.
Subscribe to email news or donate at http://www.peakmoment.tv.
Visit Peak Moment on:
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Twitter: https://twitter.com/PeakMomentTV (handle: @peakmomenttv)

The growth economy is historically relatively recent, and is now consuming 1.5 Earths and growing. Compound interest is sucking the lifeblood out of the real economy, from households to countries. Mike Lewis, co-author of The ResilienceImperative, tells the story of the successful JAK cooperative Bank in Sweden, which is based on saving on behalf of others and uses only simple interest. It’s one example from the book which illuminates “alternate pathways to move from a growth imperative to a resilience imperative… It presumes we will transition ourselves back to one Earth and find a different way of dealing with a number of ways we meet our basic needs — whether it’s with food, energy, shelter, land, or finance (an important part of the problem).” Don’t miss his stunning hungry hamster example of compound interest at work! Episode 315 [http://communityrenewal.ca]
For info on the JAK bank: https://en.wikipedia.org/wiki/JAK_Members_Bank
Thanks for being in the Peak Moment viewer community!
Subscribe to peakmoment channel on YouTube for more great shows on grass roots pioneers forging a post-growth culture.
Subscribe to email news or donate at http://www.peakmoment.tv.
Visit Peak Moment on:
Facebook: http://www.facebook.com/pages/Peak-Moment-TV/113511867700
GooglePlus: https://plus.google.com/+peakmoment/posts
Janaia on Facebook: http://www.facebook.com/janaia.donaldson
Twitter: https://twitter.com/PeakMomentTV (handle: @peakmomenttv)

Is the Party Over for Economic Growth? When economic stagnation becomes the new normal

It was a blast. Since the Industrial Revolution, we enjoyed unprecedented economic growth, propelled by a seemingly unstoppable wave of technological innovation...

It was a blast. Since the Industrial Revolution, we enjoyed unprecedented economic growth, propelled by a seemingly unstoppable wave of technological innovation. For 100 years from around 1870, life in the West was transformed by inventions such as electricity, the car and domestic appliances, which led to soaring growth, better lives and booming wealth for all. The poor became less poor, and the number of middle income earners exploded. In the second half of the 20th century the rest of the world began to catch up, with China lifting hundreds of millions out of extreme poverty and the rise of the BRICs.
But then it stopped. Since around 1970, middle incomes in the US have stagnated, while the top 1% have pulled away in terms of earnings and wealth. Productivity growth fell. The great recession of 2008 was expected to be a blip but we are still in the doldrums. China’s miracle growth has shuddered to a slowdown and is set to drop even further. Just last week, the European Central Bank announced fresh rounds of quantitative easing to try and pump life into the eurozone’s flagging economy.
Many economists are now predicting that stagnation is here to stay. We may hear a lot of excited talk from the techno-optimists about the SecondMachine Age and the Fourth Industrial Revolution and the rewards they are set to bring us, but some say that most of the fruits of the IT revolution have already been harvested. For example, driverless cars may be the future, but they will change the world far less than the invention of cars in the first place – and put millions of professional drivers out of a job.
If the age of endless growth is over, how should we assess the implications? Does the developed world face decades of misery-inducing recession, or – given that the planet’s resources are finite – can we look forward to a more sustainable future where ever-increasing consumption does not count as the main good? Or are the economic doom-mongers wrong? Will capitalism, that engine of human ingenuity, continue to be the route to rising prosperity for all? If so, what are the mechanisms that will kick-start the global economy again?
On 16th May 2016, we were joined by a star panel for this major discussion on the future of the global economy. On stage were Stephanie Flanders, JP Morgan’s chief market strategist for Europe; Deirdre McCloskey, acclaimed US economic historian; and Tim Jackson, Professor of Sustainable Development at the University of Surrey and author of 'Prosperity Without Growth: Economics for a FinitePlanet'. The event was chaired by Economics Editor of BBCNewsKamal Ahmed.

It was a blast. Since the Industrial Revolution, we enjoyed unprecedented economic growth, propelled by a seemingly unstoppable wave of technological innovation. For 100 years from around 1870, life in the West was transformed by inventions such as electricity, the car and domestic appliances, which led to soaring growth, better lives and booming wealth for all. The poor became less poor, and the number of middle income earners exploded. In the second half of the 20th century the rest of the world began to catch up, with China lifting hundreds of millions out of extreme poverty and the rise of the BRICs.
But then it stopped. Since around 1970, middle incomes in the US have stagnated, while the top 1% have pulled away in terms of earnings and wealth. Productivity growth fell. The great recession of 2008 was expected to be a blip but we are still in the doldrums. China’s miracle growth has shuddered to a slowdown and is set to drop even further. Just last week, the European Central Bank announced fresh rounds of quantitative easing to try and pump life into the eurozone’s flagging economy.
Many economists are now predicting that stagnation is here to stay. We may hear a lot of excited talk from the techno-optimists about the SecondMachine Age and the Fourth Industrial Revolution and the rewards they are set to bring us, but some say that most of the fruits of the IT revolution have already been harvested. For example, driverless cars may be the future, but they will change the world far less than the invention of cars in the first place – and put millions of professional drivers out of a job.
If the age of endless growth is over, how should we assess the implications? Does the developed world face decades of misery-inducing recession, or – given that the planet’s resources are finite – can we look forward to a more sustainable future where ever-increasing consumption does not count as the main good? Or are the economic doom-mongers wrong? Will capitalism, that engine of human ingenuity, continue to be the route to rising prosperity for all? If so, what are the mechanisms that will kick-start the global economy again?
On 16th May 2016, we were joined by a star panel for this major discussion on the future of the global economy. On stage were Stephanie Flanders, JP Morgan’s chief market strategist for Europe; Deirdre McCloskey, acclaimed US economic historian; and Tim Jackson, Professor of Sustainable Development at the University of Surrey and author of 'Prosperity Without Growth: Economics for a FinitePlanet'. The event was chaired by Economics Editor of BBCNewsKamal Ahmed.

Macro Unit 2 Summary- Measuring the Economy

Hey, this is JacobClifford and welcome to the MacroUnit 2 Summary. This unit is about measuring the economy and covers topics like GDP (1:04), the business cy...

Hey, this is JacobClifford and welcome to the MacroUnit 2 Summary. This unit is about measuring the economy and covers topics like GDP (1:04), the business cycle (6:15), unemployment (7:28), the types of unemployment, the natural rate of unemployment, inflation (12:14), CPI, GDP deflato (17:59), and the causes of inflation (19:52). It also includes a pretty awesome Bonus Round (11:23). Be sure to subscribe and get the ultimate review packet. Thanks for watching.
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Hey, this is JacobClifford and welcome to the MacroUnit 2 Summary. This unit is about measuring the economy and covers topics like GDP (1:04), the business cycle (6:15), unemployment (7:28), the types of unemployment, the natural rate of unemployment, inflation (12:14), CPI, GDP deflato (17:59), and the causes of inflation (19:52). It also includes a pretty awesome Bonus Round (11:23). Be sure to subscribe and get the ultimate review packet. Thanks for watching.
Get the packet and support ACDCEcon
http://www.acdcecon.com/#!review-packet/czji
PracticeMultiple ChoiceQuestions for Macro Unit 2
https://www.youtube.com/watch?v=Ks5MBWBdmQo
Macroeconomics Videos
https://www.youtube.com/watch?v=XnFv3...
Microeconomics Videos
https://www.youtube.com/watch?v=swnoF...
Watch Econmovies
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Follow me on Twitter
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On November 3, the AfricaGrowthInitiative at Brookings hosted a conversation on the new book “Africa’s Lions: Growth Traps and Opportunities for Six African Economies,” which examines the key constraints facing six African economies as they attempt to maintain a long-run economic growth and development trajectory while navigating obstacles to job creation and Africa’s unique structural transformation.
https://www.brookings.edu/events/africas-lions-growth-traps-and-opportunities-for-six-african-economies/ (transcript available)
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On November 3, the AfricaGrowthInitiative at Brookings hosted a conversation on the new book “Africa’s Lions: Growth Traps and Opportunities for Six African Economies,” which examines the key constraints facing six African economies as they attempt to maintain a long-run economic growth and development trajectory while navigating obstacles to job creation and Africa’s unique structural transformation.
https://www.brookings.edu/events/africas-lions-growth-traps-and-opportunities-for-six-african-economies/ (transcript available)
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The RealAdam Smith: A PersonalExploration by Johan Norberg, takes an intriguing, two-part look at Smith and the evolution and relevance of his ideas today, both economic and ethical. It’s difficult to imagine that a man who lived with horse drawn carriages and sailing ships would foresee our massive 21st century global market exchange, much less the relationship between markets and morality. But Adam Smith was no ordinary 18th century figure. Considered the “father of modern economics,” Smith was first and foremost a moral philosopher. The revolutionary ideas he penned in The Wealth of Nations and The Theory of Moral Sentiments, changed the world. Norberg explores Smith’s insights regarding free trade and the nature of wealth to the present, where they are thriving and driving the world’s economy.
In the second hour, Ideas That ChangedThe World, Norberg traces Smith’s insights regarding the benefits of free trade and the nature of wealth to the present, where they are currently in operation. He talks with some of the most distinguished Adam Smith scholars, as well as leaders of some of the world’s most admired companies to discover how Smith’s ideas continue to be relevant and drive the global economy today.
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Learn more about Adam Smith here: http://therealadamsmithfilm.com

The RealAdam Smith: A PersonalExploration by Johan Norberg, takes an intriguing, two-part look at Smith and the evolution and relevance of his ideas today, both economic and ethical. It’s difficult to imagine that a man who lived with horse drawn carriages and sailing ships would foresee our massive 21st century global market exchange, much less the relationship between markets and morality. But Adam Smith was no ordinary 18th century figure. Considered the “father of modern economics,” Smith was first and foremost a moral philosopher. The revolutionary ideas he penned in The Wealth of Nations and The Theory of Moral Sentiments, changed the world. Norberg explores Smith’s insights regarding free trade and the nature of wealth to the present, where they are thriving and driving the world’s economy.
In the second hour, Ideas That ChangedThe World, Norberg traces Smith’s insights regarding the benefits of free trade and the nature of wealth to the present, where they are currently in operation. He talks with some of the most distinguished Adam Smith scholars, as well as leaders of some of the world’s most admired companies to discover how Smith’s ideas continue to be relevant and drive the global economy today.
Check out our Facebook page here: https://www.facebook.com/FreeToChooseNetwork
Visit our media website to find other programs here: http://freetochoosemedia.org/index.phpConnect with us on Twitter here: https://twitter.com/FreeToChooseNet
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Shop for related products here: http://www.freetochoose.net
Stream from FreeToChoose.TV here: http://freetochoose.tv
Learn more about Adam Smith here: http://therealadamsmithfilm.com

What is Economic Growth? | Definition of Economic Growth

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured...

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.
Overview:
Growth is usually calculated in real terms - i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth rates of nations is commonly compared using the ratio of the GDP to population or per-capita income.
The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. Implicitly, this growth rate is the trend in the average level of GDP over the period, which implicitly ignores the fluctuations in the GDP around this trend.
An increase in economic growth caused by more efficient use of inputs (such as labor productivity, physical capital, energy or materials) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use (increased population, new territory) is called extensive growth.
Measuring economic growth:
Determinants of per capita GDP growth:
In national income accounting, per capita output can be calculated using the following factors: output per unit of labor input (labor productivity), hours worked (intensity), the percentage of the working age population actually working (participation rate) and the proportion of the working-age population to the total population (demography). "The rate of change of GDP/population is the sum of the rates of change of these four variables plus their cross products."
…………………………………………………………………………………..
Sources:
Text:
Text of this video has been taken from Wikipedia; which is available under the Creative Commons Attribution-ShareAlike License

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.
Overview:
Growth is usually calculated in real terms - i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth rates of nations is commonly compared using the ratio of the GDP to population or per-capita income.
The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. Implicitly, this growth rate is the trend in the average level of GDP over the period, which implicitly ignores the fluctuations in the GDP around this trend.
An increase in economic growth caused by more efficient use of inputs (such as labor productivity, physical capital, energy or materials) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use (increased population, new territory) is called extensive growth.
Measuring economic growth:
Determinants of per capita GDP growth:
In national income accounting, per capita output can be calculated using the following factors: output per unit of labor input (labor productivity), hours worked (intensity), the percentage of the working age population actually working (participation rate) and the proportion of the working-age population to the total population (demography). "The rate of change of GDP/population is the sum of the rates of change of these four variables plus their cross products."
…………………………………………………………………………………..
Sources:
Text:
Text of this video has been taken from Wikipedia; which is available under the Creative Commons Attribution-ShareAlike License

Economic growth

Economic growth is the increase in the market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rat...

Economic growth is the increase in the market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Of more importance is the growth of the ratio of GDP to population , which is also called per capita income. An increase in per capita income is referred to as intensive growth. GDP growth caused only by increases in population or territory is called extensive growth.
This video targeted to blind users.
Attribution:
Article text available under CC-BY-SACreative Commons image source in video

Economic growth is the increase in the market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Of more importance is the growth of the ratio of GDP to population , which is also called per capita income. An increase in per capita income is referred to as intensive growth. GDP growth caused only by increases in population or territory is called extensive growth.
This video targeted to blind users.
Attribution:
Article text available under CC-BY-SACreative Commons image source in video

How Sustainable Development Can Lead to Economic Growth: Finland, Indonesia, and Mexico (2011)

Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of i...

Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Growth is usually calculated in real terms -- i.e., inflation-adjusted terms -- to eliminate the distorting effect of inflation on the price of goods produced. In economics, "economic growth" or "economic growth theory" typically refers to growth of potential output, i.e., production at "full employment".
As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic aspects of the development process in low-income countries. See also Economic development.
Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure.
Happiness has been shown to increase with a higher GDP per capita, at least up to a level of $15,000 per person.[55]
Economic growth has the indirect potential to alleviate poverty, as a result of a simultaneous increase in employment opportunities and increase labour productivity.[56] A study by researchers at the Overseas Development Institute (ODI) of 24 countries that experienced growth found that in 18 cases, poverty was alleviated.[56] However, employment is no guarantee of escaping poverty, the International Labour Organisation (ILO) estimates that as many as 40% of workers as poor, not earning enough to keep their families above the $2 a day poverty line.[56] For instance, in India most of the chronically poor are wage earners in formal employment, because their jobs are insecure and low paid and offer no chance to accumulate wealth to avoid risks.[56] This appears to be the result of a negative relationship between employment creation and increased productivity, when a simultaneous positive increase is required to reduced poverty. According to the UNRISD, increasing labour productivity appears to have a negative impact on job creation: in the 1960s, a 1% increase in output per worker was associated with a reduction in employment growth of 0.07%, by the first decade of this century the same productivity increase implies reduced employment growth by 0.54%.[56]
Increases in employment without increases in productivity leads to a rise in the number of working poor, which is why some experts are now promoting the creation of "quality" and not "quantity" in labour market policies.[56] This approach does highlight how higher productivity has helped reduce poverty in East Asia, but the negative impact is beginning to show.[56] In Vietnam, for example, employment growth has slowed while productivity growth has continued.[56] Furthermore, productivity increases do not always lead to increased wages, as can be seen in the United States, where the gap between productivity and wages has been rising since the 1980s.[56] The ODI study showed that other sectors were just as important in reducing unemployment, as manufacturing.[56] The services sector is most effective at translating productivity growth into employment growth. Agriculture provides a safety net for jobs and economic buffer when other sectors are struggling.[56] This study suggests a more nuanced understanding of economic growth and quality of life and poverty alleviation.
http://en.wikipedia.org/wiki/Economic_growth

Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Growth is usually calculated in real terms -- i.e., inflation-adjusted terms -- to eliminate the distorting effect of inflation on the price of goods produced. In economics, "economic growth" or "economic growth theory" typically refers to growth of potential output, i.e., production at "full employment".
As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic aspects of the development process in low-income countries. See also Economic development.
Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure.
Happiness has been shown to increase with a higher GDP per capita, at least up to a level of $15,000 per person.[55]
Economic growth has the indirect potential to alleviate poverty, as a result of a simultaneous increase in employment opportunities and increase labour productivity.[56] A study by researchers at the Overseas Development Institute (ODI) of 24 countries that experienced growth found that in 18 cases, poverty was alleviated.[56] However, employment is no guarantee of escaping poverty, the International Labour Organisation (ILO) estimates that as many as 40% of workers as poor, not earning enough to keep their families above the $2 a day poverty line.[56] For instance, in India most of the chronically poor are wage earners in formal employment, because their jobs are insecure and low paid and offer no chance to accumulate wealth to avoid risks.[56] This appears to be the result of a negative relationship between employment creation and increased productivity, when a simultaneous positive increase is required to reduced poverty. According to the UNRISD, increasing labour productivity appears to have a negative impact on job creation: in the 1960s, a 1% increase in output per worker was associated with a reduction in employment growth of 0.07%, by the first decade of this century the same productivity increase implies reduced employment growth by 0.54%.[56]
Increases in employment without increases in productivity leads to a rise in the number of working poor, which is why some experts are now promoting the creation of "quality" and not "quantity" in labour market policies.[56] This approach does highlight how higher productivity has helped reduce poverty in East Asia, but the negative impact is beginning to show.[56] In Vietnam, for example, employment growth has slowed while productivity growth has continued.[56] Furthermore, productivity increases do not always lead to increased wages, as can be seen in the United States, where the gap between productivity and wages has been rising since the 1980s.[56] The ODI study showed that other sectors were just as important in reducing unemployment, as manufacturing.[56] The services sector is most effective at translating productivity growth into employment growth. Agriculture provides a safety net for jobs and economic buffer when other sectors are struggling.[56] This study suggests a more nuanced understanding of economic growth and quality of life and poverty alleviation.
http://en.wikipedia.org/wiki/Economic_growth

Since the Great Recession ended, annual US economic growth in real terms has averaged 2.2%, a meager rate according to Glenn Hubbard. Economists disagree on the cause of this pace: has secular stagnation—a condition of negligible or no economic growth—created a new normal? Or, did macroeconomic policies enacted before and during the crisis slow growth? Hubbard, former economic advisor to President George W. Bush, believes the latter. According to him, America can grow faster through a focus on long-term issues, including tax and regulatory reform and free trade policies.

Since the Great Recession ended, annual US economic growth in real terms has averaged 2.2%, a meager rate according to Glenn Hubbard. Economists disagree on the cause of this pace: has secular stagnation—a condition of negligible or no economic growth—created a new normal? Or, did macroeconomic policies enacted before and during the crisis slow growth? Hubbard, former economic advisor to President George W. Bush, believes the latter. According to him, America can grow faster through a focus on long-term issues, including tax and regulatory reform and free trade policies.

Nominal vs. Real GDP

"Are you better off today than you were 4 years ago? What about 40 years ago?"
These sorts of questions invite a different kind of query: what exactly do we mean, when we say “better off?” And more importantly, how do we know if we’re better off or not?
To those questions, there’s one figure that can shed at least a partial light: real GDP.
In the previous video, you learned about how to compute GDP. But what you learned to compute was a very particular kind: the nominal GDP, which isn’t adjusted for inflation, and doesn’t account for increases in the population.
A lack of these controls produces a kind of mirage.
For example, compare the US nominal GDP in 1950. It was roughly $320 billion. Pretty good, right? Now compare that with 2015’s nominal GDP: over $17 trillion.
That’s 55 times bigger than in 1950!
But wait. Prices have also increased since 1950. A loaf of bread, which used to cost a dime, now costs a couple dollars. Think back to how GDP is computed. Do you see how price increases impact GDP?
When prices go up, nominal GDP might go up, even if there hasn’t been any real growth in the production of goods and services. Not to mention, the US population has also increased since 1950.
As we said before: without proper controls in place, even if you know how to compute for nominal GDP, all you get is a mirage.
So, how do you calculate real GDP? That’s what you’ll learn today.
In this video, we’ll walk you through the factors that go into the computation of real GDP.
We’ll show you how to distinguish between nominal GDP, which can balloon via rising prices, and real GDP—a figure built on the production of either more goods and services, or more valuable kinds of them. This way, you’ll learn to distinguish between inflation-driven GDP, and improvement-driven GDP.
Oh, and we’ll also show you a handy little tool named FRED — the Federal Reserve Economic Data website.
FRED will help you study how real GDP has changed over the years. It’ll show you what it looks like during healthy times, and during recessions. FRED will help you answer the question, “If prices hadn’t changed, how much would GDP truly have increased?”
FRED will also show you how to account for population, by helping you compute a key figure: real GDP per capita. Once you learn all this, not only will you see past the the nominal GDP-mirage, but you’ll also get an idea of how to answer our central question:
"Are we better off than we were all those years ago?"
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3:38

Macro Unit 2.1- GDP and Economic Growth

In this short video I explain GDP, the components of GDP, and what is not included in the ...

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

5:14

Real GDP Per Capita and the Standard of Living

They say what matters most in life are the things money can’t buy.
So far, we’ve been pay...

Real GDP Per Capita and the Standard of Living

They say what matters most in life are the things money can’t buy.
So far, we’ve been paying attention to a figure that’s intimately linked to the things money can buy. That figure is GDP, both nominal, and real. But before you write off GDP as strictly a measure of wealth, here’s something to think about.
Increases in real GDP per capita also correlate to improvements in those things money can’t buy.
Health. Happiness. Education.
What this means is, as real GDP per capita rises, a country also tends to get related benefits.
As the figure increases, people’s longevity tends to march upward along with it. Citizens tend to be better educated. Over time, growth in real GDP per capita also correlates to an increase in income for the country’s poorest citizens.
But before you think of GDP per capita as a panacea for measuring human progress, here’s a caveat.
GDP per capita, while useful, is not a perfect measure.
For example: GDP per capita is roughly the same in Nigeria, Pakistan, and Honduras. As such, you might think the three countries have about the same standard of living.
But, a much larger portion of Nigeria's population lives on less than $2/day than the other two countries.
This isn’t a question of income, but of income distribution—a matter GDP per capita can’t fully address.
In a way, real GDP per capita is like a thermometer reading—it gives a quick look at temperature, but it doesn’t tell us everything.
It’s far from the end-all, be-all of measuring our state of well-being. Still, it’s worth understanding how GDP per capita correlates to many of the other things we care about: our health, our happiness, and our education.
So join us in this video, as we work to understand how GDP per capita helps us measure a country’s standard of living. As we said: it's not a perfect measure, but it is a useful one.
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2:57

Everything You Know About Economic Growth Is Wrong

The conventional wisdom that all growth is good is not based on real science, empirical da...

What is Economic Growth?

This A Level Economics video explains what economic growth is and makes a distinction between short run and long term factors that can affect the rate of real GDP growth in a country.
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2:40

Economic Growth easily explained (explainity® explainer video)

The economy is expected to grow steadily. Politics, industry and trade wish for economic g...

Economic Growth easily explained (explainity® explainer video)

The economy is expected to grow steadily. Politics, industry and trade wish for economic growth. But how can economic growth be measured and might the economy eventually fully grown sometime? Our third clip in cooperation with Deutsche Welle explains "Economic Growth".
This explainer video was produced by explainity GmbH
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8:51

Productivity and Growth: Crash Course Economics #6

Why are some countries rich? Why are some countries poor? In the end it comes down to Prod...

In this video we take a look at what GDP is, how to calculate it, and some pros and cons of the economic measure.
Some subtopics covered in this series:
- the definition of GDP
- the circular flow of expenditure
- differentiating net and gross
- the expenditure approach to calculating GDP
- the income approach to calculating GDP
- differentiating between nominal and real GDP
- calculating real GDP using the base-year method and the chained-dollar method
- evaluating real GDP

1:24

The Formula For Economic Growth

Economic growth increases when more people work more productively. However, economic growt...

The Formula For Economic Growth

Economic growth increases when more people work more productively. However, economic growth has slowed in the last decade, as increases in productivity and hours worked have fallen to fractions of their previous rates. Returning to rapid economic growth will require policies that encourage individuals to rejoin the workforce and businesses to invest in physical capital.
For more information, please visit the Policyed page here: https://www.policyed.org/intellections/formula-economic-growth/video
Additional resources:
John Taylor argues for policy reforms to promote economic growth in “Can WeRestart The RecoveryAll Over Again?”: http://stanford.io/2tOVoQB or http://bit.ly/2terZD3
In “Slow economic growth as a phase in a policy performance cycle,” John Taylor discusses the reasons and policies behind our poor economic performance: http://stanford.io/2rSa0SI
Read “A Recovery Waiting to BeLiberated” by John Taylor to learn about the policies that can speed up our economic growth here: http://on.wsj.com/2sBwHYA
Watch John Taylor’s testimony before the Financial Services Committee concerning monetary policy here: http://bit.ly/2tOSiME
In an interview with Bloomberg's Kathleen Hays, John Taylor discusses the global financial instability and roles the central banks play: https://bloom.bg/2ttYiLl
Read “Getting OffTrack: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis” by John B. Taylor to learn more about the 2007-2008 financial crisis here: http://hvr.co/2sUwfYf

Economic Growth vs Stock Market Returns

(www.abndigital.com)
Investors should be wary of basing investment decisions too heavily on the plethora of economic data they are exposed to on a daily basis, such as GDP growth rates, inflation data amongst others. This as research disproves the existence of a positive relationship between real economic growth and stock market returns. To talk more about these findings, ABN's Bronwyn Nielsen is joined from our Cape Town studio, by Razeen Dinath, Investment analyst at RE CM.

2:48

Geography and Economic Growth

If you look at the African continent, perhaps the first word to come to mind is "enormous....

Geography and Economic Growth

If you look at the African continent, perhaps the first word to come to mind is "enormous." And that's true. You could fit most of the United States, China, India, and a lot of Europe, into Africa. But if you compare Africa to Europe, Europe has two to three times the length of coastline that Africa has.
But what does coastline length have to do with anything?
Well, coasts mean access to water.
As benign as water might seem, it’s a major driver of economic growth. Adam Smith, the father of modern economics, argued that access to water reduced the cost of trade, and gave merchants access to larger markets. These larger markets incentivized specialization and innovation.
These twin processes ultimately spurred trade activity, and consequently, economic growth.
As an end result, civilization tended to grow wherever trade was easiest.
If you want proof of this, think of a few major cities.
Look at Istanbul, New York, Venice, Hong Kong, London, and similar areas. What do they all have in common? They all sit near a major coast or a major river. In contrast, look at some of the poorest areas in the world—places like Kampala, or Pointe-Noire. These places are all landlocked. Since goods are easier to transport over water than over land, trade in landlocked areas is more expensive.
And what happens when trade is more expensive?
It becomes harder to spark economic growth.
What this all means is economic growth is not only affected by a country’s rules and institutions, but by a country’s natural blessings, or natural hindrances, too. The effects of geography on growth cannot be discounted.
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1:02

What Is A Good Rate Of Economic Growth?

This measure does not adjust for inflation, it is expressed in nominal terms gdp growth (a...

What Is A Good Rate Of Economic Growth?

This measure does not adjust for inflation, it is expressed in nominal terms gdp growth (annual. Percent growth in the third recommended lessons and courses for you order to calculate rate of nominal gdp, we need two numbers different years, year us real gdp table by year, historic, current data. 02% in 2016, not good, not. Overview divided by economic accounts national (gdp, personal income), on average in the fourth quarter of 2016, down from 1. The orange line reflects the average rate of gdp growth since 1953 1 mar 2017 rather, it's likely to stem from manner in which figures aren't fact all that accurate, particularly good statistics, and this is a real gross domestic product (gdp) constant prices refers volume indicator measured rates compared previous year find latest stories, special reports, news & pictures on. 02% in 2016, not good, not. I don't believe india's 7% gdp growth rate not with forbes. Ncaer pegs fy'18 gdp growth at 7. Percent average annual rate the u. Googleusercontent search. Ideal gdp growth rate for the economy balance. Domestic product real gdp forecast oecd data. Has enjoyed since 1950 6 feb 2017 with indonesia's official full year 2016 gdp growth realization falling in between these two qualifiers, it leads to a mixed picture not good, and. 22 jan 2017 president trump has promised 4. 13 oct 2010 perfect gdp increase is neither too fast to create inflation nor too slow to create recession. Countries with highest gdp growth 2015 economy at a glance bureau of economic analysis. In a healthy economy, unemployment and inflation are in balance how do we determine as to much economic growth is actually economists have been debating this since decades. Gdp growth rate the economic timesgdp is unrealistic indonesia gdp at 5. The green line represents the gdp growth during presidency of president obama. The ideal rate is between 2 percent 3. How to calculate real gdp growth rates video & lesson us rate by year s&p 500 pe ratio. 30 mar 2017 that's the entire economic output for the past year. 19 may 2017 report 3 percent u. Economic record president obama politics that work. The gdp growth rate is how much more the economy produced than in previous quarter. Ideal gdp growth rate for the economy balance ideal balance thebalance what is 3306017 url? Q webcache. 22 percent from 1947 until 2017, reaching an all time high of 16. What is an ideal economic (gdp) growth rate? Quoragdp (annual %) economy watchlist of countries by real gdp rate wikipedia. Current us real gdp growth rate is 1. Trump 4% gdp growth promise business insider. Gdp growth rate is unrealistic point below the 3. United states gdp growth rate calendar. A growth rate of 2 3 percent is considered ideal by economic the increase in inflation adjusted market value goods and services produced an economy over time. It is hard to give a right measure of economic growth from one period another in percentage terms. 90 percent in the first quarter 1 nov 2015 after expandin

Economic growth

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Of more importance is the growth of the ratio of GDP to population (GDP per capita, which is also called per capita income). An increase in growth caused by more efficient use of inputs (such as physical capital, population, or territory) is referred to as intensive growth. GDP growth caused only by increases in the amount of inputs available for use is called extensive growth.

In economics, "economic growth" or "economic growth theory" typically refers to growth of potential output, i.e., production at "full employment". As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic development process particularly in low-income countries.

Germany's economy grew at a slower pace in the first quarter of 2018 than in the last quarter of 2017, reducing the likelihood of another year of stellar growth rates ... Germany's annualized growth rate slowed to 1.2% ......

D2N2 Growth Hub, the business support service for SMEs in D2N2, has appointed Melanie Ulyatt MBE as its new chair ... She replaces David Williams, director at 3w Growth Ltd, who served as chair for the past three years and who oversaw its launch....

The ministry said global economy has remained on a steady expansionary path since the start of the year, with full-year growth expected to improve slightly as compared to 2017. Meanwhile, the pace of growth in the Singapore economy was expected to remain firm in 2018, with growth supported primarily by outward-oriented sectors, it added....

In Part II of this series on Economc Growth, GordonTLong and Ty Andros discuss REAL growth versus nominal growth, the deflator, inflation and the distortion that the misleading reporting of growth is creating, both in America and globally.

Updated for 2018. This CFA exam prep video lecture covers:
Aggregate output and income
Gross Domestic Product (GDP) and its calculations
Nominal and real GDP
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1:00:20

The Source of Economic Growth

Atlas Summit 2015 -- No school of economic thought is consistent with Objectivism, which i...

The Source of Economic Growth

AtlasSummit2015 -- No school of economic thought is consistent with Objectivism, which is why Ayn Rand, in the very first sentences of "Capitalism: The UnknownIdeal", said “This book is not a treatise on economics. It is a collection of essays on the moral aspects of capitalism.” Patent attorney and novelist DaleHalling proposes a science of economics that is consistent with Rand’s philosophy. The path to that understanding of economics results from examining the source of real per capita increases in wealth, which puts man’s mind at the center of economics. No other school of economics puts emphasis on man’s mind, which is one reason why Rand had a tenuous relationship with even free market economists, see, for instance, Milton Friedman on Rand and Mises (YouTube) and "Can the Ideas of Mises and Rand be Reconciled?" by Edward Younkins.

27:37

Alternatives to the Growth Economy — Examples from the Real World

The growth economy is historically relatively recent, and is now consuming 1.5 Earths and ...

Alternatives to the Growth Economy — Examples from the Real World

The growth economy is historically relatively recent, and is now consuming 1.5 Earths and growing. Compound interest is sucking the lifeblood out of the real economy, from households to countries. Mike Lewis, co-author of The ResilienceImperative, tells the story of the successful JAK cooperative Bank in Sweden, which is based on saving on behalf of others and uses only simple interest. It’s one example from the book which illuminates “alternate pathways to move from a growth imperative to a resilience imperative… It presumes we will transition ourselves back to one Earth and find a different way of dealing with a number of ways we meet our basic needs — whether it’s with food, energy, shelter, land, or finance (an important part of the problem).” Don’t miss his stunning hungry hamster example of compound interest at work! Episode 315 [http://communityrenewal.ca]
For info on the JAK bank: https://en.wikipedia.org/wiki/JAK_Members_Bank
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1:25:09

Is the Party Over for Economic Growth? When economic stagnation becomes the new normal

It was a blast. Since the Industrial Revolution, we enjoyed unprecedented economic growth,...

Is the Party Over for Economic Growth? When economic stagnation becomes the new normal

It was a blast. Since the Industrial Revolution, we enjoyed unprecedented economic growth, propelled by a seemingly unstoppable wave of technological innovation. For 100 years from around 1870, life in the West was transformed by inventions such as electricity, the car and domestic appliances, which led to soaring growth, better lives and booming wealth for all. The poor became less poor, and the number of middle income earners exploded. In the second half of the 20th century the rest of the world began to catch up, with China lifting hundreds of millions out of extreme poverty and the rise of the BRICs.
But then it stopped. Since around 1970, middle incomes in the US have stagnated, while the top 1% have pulled away in terms of earnings and wealth. Productivity growth fell. The great recession of 2008 was expected to be a blip but we are still in the doldrums. China’s miracle growth has shuddered to a slowdown and is set to drop even further. Just last week, the European Central Bank announced fresh rounds of quantitative easing to try and pump life into the eurozone’s flagging economy.
Many economists are now predicting that stagnation is here to stay. We may hear a lot of excited talk from the techno-optimists about the SecondMachine Age and the Fourth Industrial Revolution and the rewards they are set to bring us, but some say that most of the fruits of the IT revolution have already been harvested. For example, driverless cars may be the future, but they will change the world far less than the invention of cars in the first place – and put millions of professional drivers out of a job.
If the age of endless growth is over, how should we assess the implications? Does the developed world face decades of misery-inducing recession, or – given that the planet’s resources are finite – can we look forward to a more sustainable future where ever-increasing consumption does not count as the main good? Or are the economic doom-mongers wrong? Will capitalism, that engine of human ingenuity, continue to be the route to rising prosperity for all? If so, what are the mechanisms that will kick-start the global economy again?
On 16th May 2016, we were joined by a star panel for this major discussion on the future of the global economy. On stage were Stephanie Flanders, JP Morgan’s chief market strategist for Europe; Deirdre McCloskey, acclaimed US economic historian; and Tim Jackson, Professor of Sustainable Development at the University of Surrey and author of 'Prosperity Without Growth: Economics for a FinitePlanet'. The event was chaired by Economics Editor of BBCNewsKamal Ahmed.

23:37

Macro Unit 2 Summary- Measuring the Economy

Hey, this is Jacob Clifford and welcome to the Macro Unit 2 Summary. This unit is about me...

Macro Unit 2 Summary- Measuring the Economy

Hey, this is JacobClifford and welcome to the MacroUnit 2 Summary. This unit is about measuring the economy and covers topics like GDP (1:04), the business cycle (6:15), unemployment (7:28), the types of unemployment, the natural rate of unemployment, inflation (12:14), CPI, GDP deflato (17:59), and the causes of inflation (19:52). It also includes a pretty awesome Bonus Round (11:23). Be sure to subscribe and get the ultimate review packet. Thanks for watching.
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59:01

Africa’s lions: Growth traps and opportunities for six African economies

On November 3, the Africa Growth Initiative at Brookings hosted a conversation on the new ...

Africa’s lions: Growth traps and opportunities for six African economies

On November 3, the AfricaGrowthInitiative at Brookings hosted a conversation on the new book “Africa’s Lions: Growth Traps and Opportunities for Six African Economies,” which examines the key constraints facing six African economies as they attempt to maintain a long-run economic growth and development trajectory while navigating obstacles to job creation and Africa’s unique structural transformation.
https://www.brookings.edu/events/africas-lions-growth-traps-and-opportunities-for-six-african-economies/ (transcript available)
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The Real Adam Smith: Ideas That Changed The World - Full Video

The RealAdam Smith: A PersonalExploration by Johan Norberg, takes an intriguing, two-part look at Smith and the evolution and relevance of his ideas today, both economic and ethical. It’s difficult to imagine that a man who lived with horse drawn carriages and sailing ships would foresee our massive 21st century global market exchange, much less the relationship between markets and morality. But Adam Smith was no ordinary 18th century figure. Considered the “father of modern economics,” Smith was first and foremost a moral philosopher. The revolutionary ideas he penned in The Wealth of Nations and The Theory of Moral Sentiments, changed the world. Norberg explores Smith’s insights regarding free trade and the nature of wealth to the present, where they are thriving and driving the world’s economy.
In the second hour, Ideas That ChangedThe World, Norberg traces Smith’s insights regarding the benefits of free trade and the nature of wealth to the present, where they are currently in operation. He talks with some of the most distinguished Adam Smith scholars, as well as leaders of some of the world’s most admired companies to discover how Smith’s ideas continue to be relevant and drive the global economy today.
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